The Australian Wool Market finished the week 0.6 percent lower, on average, at sales in Sydney, Melbourne and Fremantle this week.
The AWEX EMI decreased by 4¢ (-0.5 percent) ending the week at 747¢/kg clean. This reflected decreases of 3¢ (-0.4 percent) in the North and 4¢ (-0.5 percent) in the South, with their corresponding Regional Indicators finishing the week at 772¢ and 727¢ clean respectively The Western Indicator decreased by 7¢ (-1.0 percent) finishing the week at 725¢/kg clean.
59,382 bales were on offer (compared with 54,842 last week), of which 12.8 percent were passed in, comprising of 8.0 percent in Sydney, 11.8 percent in Melbourne and 21.0 percent in Fremantle.
Pass in rates for Merino fleece and skirtings were 13.3 percent and 12.1 percent respectively. 1,466 bales (2.4 percent) were withdrawn prior to sale and re-offered wools made up 11.4 percent of this week's offering.
The US exchange rate was 0.77¢ higher on Monday when compared with Thursday last week. It decreased by 0.03¢ on Tuesday, by 0.17¢ on Wednesday and by 0.20¢ on Thursday to close at 76.64¢, up 0.37¢ (+0.5 percent) since the last sale.
The exchange rate against the Euro increased by 0.35 Euro cents (+0.6 percent) to close at 59.82 Euro cents on Thursday night. When looked at in other currencies, the AWEX EMI was unchanged when compared with the previous sale.
In a two day sale in Sydney and Melbourne, the AWEX EMI, fell by 3¢ on Wednesday and by 1¢ on Thursday. The Western Indicator, in a two day sale, fell by 7¢ on Wednesday and remained the same on Thursday.
marketing@alchempro.com
