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Weekly Wool Market Report 7th July 2008'
Weekly Wool Market Report 7th July 2008'

 

        A softer market is expected this week as exporters finish July shipment requirements and avoid taking stock at present levels with much uncertainty around. With increased quantities available August to December and a predicted higher exchange rate buyers/traders are cautious to buy without forward sales on their books and real demand, the market has spiked during the past month due to lack of supply more than increased demand. On the other hand demand is also very limited particularly in China where a combination of poor consumer sentiment, credit squeezes, World inflation, high exchange rates and Quota issues have impacted the market. We can still expect a tough 4/5 months ahead unless exchange rates made a major retraction.

     


Posted on Monday, July 07, 2008
Posted by Scott Sealy  Contributed by
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