Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: russwinter who wrote (6684)	2/1/2004 9:12:17 PM
From: ild	Read Replies (3) \| Respond to of 110194

CI February 2004 The Mistakes Of Our Grandparents? contraryinvestor.com

To: russwinter who wrote (6684)	2/2/2004 1:20:51 AM
From: mishedlo	Respond to of 110194

PLUNGING wool prices marked sales across the country this week as volatile exchange rates made buyers nervous. The benchmark eastern market indicator continued to fall, sliding 2.7 per cent, or 22¢, to end the week at 789¢/kg while in Fremantle the western indicator dropped 2.3 per cent, or 18¢, to close at 753¢/kg. About 20 per cent of the 54,546 bales offered for sale were passed in, adding to the growing stockpile of unsold bales - now estimated at 700,000 bales by the Australian Wool Industries Secretariat - stored in brokers' sheds and on farms. The biggest drop was for wool in the 19-micron range, which fell a massive 52¢ in WA. The Australian Wool Secretariat's Peter Morgan said sales opened on Wednesday on an expected soft note after currency fluctuations. The market steadied on Thursday after reports of sales to China on Wednesday night and an easing of the exchange rate, he said in the AWIS weekly market review. Wool prices had surged earlier in the month on the back of a continued rise in the Australian dollar before falling last week as the currency stalled against the US dollar. The National Farmers Federation estimates the gains in the Australian dollar from its lows around US56¢ last year has cost Australian farmers upwards of $4 billion in lost income. thewest.com.au