The Australian Wool Market finished the week 0.8 percent higher, on average, at sales in Sydney, Melbourne and Fremantle this week.
The AWEX EMI increased by 5¢ (+0.7 percent) ending the week at 751¢/kg clean. This reflected increases of 4¢ (+0.5 percent) in the North, coming off a Newcastle sale last week, and 6¢ (+0.8 percent) in the South, with their corresponding Regional Indicators finishing the week at 775¢ and 731¢ clean respectively The Western Indicator increased by 8¢ (+1.1 percent) finishing the week at 732¢/kg clean.
54,842 bales were on offer (compared with 51,799 last week), of which 8.2 percent were passed in, continuing the good clearances of the last three weeks.
Pass in rates for Merino fleece and skirtings were 6.6 percent and 10.9 percent respectively. 1,809 bales (3.2 percent) were withdrawn prior to sale and re-offered wools made up 10.9 percent of this week's offering.
The US exchange rate was 0.30¢ lower on Monday when compared with Thursday last week. It increased by 0.37¢ on Tuesday, remained the same on Wednesday and increased by 0.04¢ on Thursday to close at 76.27¢, up 0.11¢ (+0.1 percent) since the last sale. The exchange rate against the Euro decreased by 0.16 Euro cents ( 0.3 percent) to close at 59.47 Euro cents on Thursday night.
When looked at in other currencies, the AWEX EMI increased by 5¢ in US terms (more than recovering last week's fall of 4¢) and by 2¢ in Euro terms when compared with the previous sale.
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