In a good sale, the Australian Wool Market finished the week 0.7 percent higher, on average, at sales in Sydney, Melbourne and Fremantle this week.
The AWEX EMI increased by 4¢ (+0.5 percent) ending the week at 741¢/kg clean. This reflected increases of 6¢ (+0.8 percent) in the North and 3¢ (+0.4 percent) in the South, with their corresponding Regional Indicators finishing the week at 766¢ and 720¢ clean respectively. The Western Indicator increased by 7¢ (+1.0 percent) finishing the week at 717¢/kg clean.
56,977 bales were on offer (compared with 49,482 last week when only the North and the South sold), of which 9.8 percent were passed in, comprised of 7.1 percent in Sydney, 8.4 percent in Melbourne and 13.6 percent in Fremantle.
Pass in rates for Merino fleece and skirtings were 10.9 percent and 6.7 percent respectively. 3,359 bales (5.6 percent) were withdrawn prior to sale and re-offered wools made up 11.0 percent of this week's offering.
The New Zealand Merino Company offered 5,022 bales (including 2 percent of re-offered wools) for sale on Tuesday. Less than 1 percent was withdrawn and 21.6 percent were passed in.
The US exchange rate was 0.32¢ lower on Monday when compared with Thursday last week. It increased by 0.21¢ on Tuesday, fell by 0.15¢ on Wednesday and increased by 0.34¢ on Thursday to close at 74.70¢, up 0.08¢ (+0.1 percent) since the last sale.
The exchange rate against the Euro rose by 0.85 Euro cents (+1.4 percent) to close at 59.59 Euro cents on Thursday night. When looked at in other currencies, the AWEX EMI increased by 4¢ in US terms and by 9¢ in Euro terms when compared with the previous sale.
marketing@alchempro.com
