Saturday 28 July 2012
The wool market slips
The wool market is gloomy as it heads into a three-week recess.
Last week, the Eastern Market Indicator fell 15 cents, to 1062, and there were some solid losses between 19 and 20 micron.
But losses were felt right across the 17 to 22 micron range, all falling between 20 and 40 cents.
Michael de Kleuver, from Rodwells, says it's a disappointing result heading into a recess.
"A lot of exporters travel over the recess, and when they're meeting their customers overseas, they generally try to do a little bit of business face to face.
It's generally something that is almost expected," he siad.
"So when the market firms towards the close, that make's the job a bit easier.
"When it's getting cheaper, that makes that job very very difficult."
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