The Australian Wool Market finished the week 1.6 percent lower, on average, at sales in Sydney, Melbourne and Fremantle this week.
The AWEX EMI decreased by 13¢ (-1.7 percent) ending the week at 739¢/kg clean. This reflected decreases of 7¢ (-0.9 percent) in the North and 17¢ (-2.3 percent) in the South, with their corresponding Regional Indicators finishing the week at 771¢ and 713¢ clean respectively The Western Indicator dropped by 11¢ ( 1.5 percent) finishing the week at 710¢/kg clean.
67,430 bales were on offer (compared with 61,870 last week), of which 15.7 percent were passed in, comprised of 12.9 percent in Sydney, 15.0 percent in Melbourne and 22.2 percent in Fremantle.
Pass in rates for Merino fleece and skirtings were 16.9 percent and 12.7 percent respectively. 2,546 bales (3.6 percent) were withdrawn prior to sale and re-offered wools made up 10.3 percent of this week's offering.
The US exchange rate was 0.45¢ lower on Monday when compared with Thursday last week. It increased by 0.28¢ on Tuesday, decreased by 0.43¢ on Wednesday and by 0.05¢ on Thursday to close at 75.02¢, down 0.65¢ (-0.9 percent) since the last sale.
The exchange rate against the Euro fell by 0.54 Euro cents (-0.9 percent) to close at 58.96 Euro cents on Thursday night. When looked at in other currencies, the AWEX EMI decreased by 15¢ in US terms and by 11¢ in Euro terms when compared with the previous sale.
The New Zealand Merino Company offered 5,236 bales in Melbourne, including 1.7 percent of re-offered wools. 1,458 bales (27.8 percent) were passed in and 196 bales (3.7 percent) were withdrawn prior to sale.
marketing@alchempro.com
