Wool market steady in new trading days

27 Feb, 2012 01:00 AM
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Dongara farmer Peter Summers (left) with Elders wool sales manager Danny Burkett. Mr Summers runs 4800 Multi Purpose Merino (MPM) ewes using semen from the Glendemar Merino stud, Victoria, in conjunction with Moojepin bloodlines.
Dongara farmer Peter Summers (left) with Elders wool sales manager Danny Burkett. Mr Summers runs 4800 Multi Purpose Merino (MPM) ewes using semen from the Glendemar Merino stud, Victoria, in conjunction with Moojepin bloodlines.

THE first week of a four-week trial to gauge bringing wool sales forward one day generated extra interest in last week's wool market.

And it didn't appear as though holding a Tuesday-Wednesday sale compared to the traditional Wednesday-Thursday had much impact on the market with the regional indicators finishing 0.4 per cent higher on average, with 47,417 bales on offer compared to 42,907 the week before.

In WA, sales opened at 1254c/kg and rose nine cents a kilogram on the first day of sales.

The indicator again increased by 2c/kg on Wednesday to close the week up 11c/kg to 1265c/kg.

In the east, the Eastern Market Indicator opened at 1243 cents a kilogram and rose seven cents on Tuesday, followed by no change on the Wednesday.

Thursday however was not so successful with the market losing 6c/kg, closing the week up 1c/kg to 1244c/kg.

Elders Wool sales manager Danny Burkett said he was happy with how last week's market finished up.

"What is important to note is that growers selling at this time of year are now receiving their second wool income at reasonably high returns, which has gone some way to help pay for their ever increasing input costs," he said.

"We are seeing some longevity in the market that we haven't seen in years and this longevity and stability of prices have been rewarding for those growers who have stuck with Merinos.

"The wool prices, combined with stock prices, are currently looking very good on farmers' budgets."

Dyson Jones trade director Peter Howie agreed that the market was strong last week and that the change in sale days hadn't made much difference but said he preferred the traditional sales day set up.

"We had a very good clearance, with a large amount of interest after the sale," he said.

Mr Howie believed that week 34 may be a bit different and suspected the market may not be quite as strong.

"I think there may have been a better selection of wools out last week and so whether buyers are having a breather or not I'm not too sure," he said.

Dongara wool producer Peter Summers, had 85 bales, half of his annual wool clip, for offer in this week's Tuesday sale.

Mr Summers agreed with Mr Burkett's comments that it was high time growers were seeing some better returns on their wool.

"We are very happy with the wool industry at present," he said.

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