General Market Summary

Auction quantities remain small and this continues to impact on the local prices. There is no doubt this supply is a major contributing factor in the market. The selection is improving in terms of quality fine wool despite the drought but we don’t expect this to quality offering to last long. The market was very firm on Wednesday and then eased back on Thursday. Good specification fleece wool remains keenly sought after across all micron categories. We saw little change in the better types on Thursday while the overall market certainly eased. In the medium to broader merino range 19.5 to 21.5 micron, prices seemed to firm a little late in the sale in both Melbourne and Fremantle. Recent trends have inclined to see a firming market after each softening trend. With only 35,000 bales nationally next week, it won’t take much to keep prices around about this level next week.