In a week which strongly favoured sellers, the Australian Wool Market finished the week 2.3 percent higher, on average, at sales in Newcastle, Melbourne and Fremantle this week.
The AWEX EMI increased by 14¢ (+1.9 percent) ending the week at 755¢/kg clean. This reflected increases of 9¢ (+1.2 percent) in the North and 18¢ (+2.5 percent) in the South, with their corresponding Regional Indicators finishing the week at 775¢ and 738¢ clean respectively.
The Western Indicator, coming off a two week break, increased by 24¢ (+3.3 percent) finishing the week at 741¢/kg clean.
58,929 bales were on offer (compared with 56,977 last week), of which 6.8 percent were passed in, comprised of 6.6 percent in Newcastle, 6.9 percent in Melbourne and 6.8 percent in Fremantle.
Pass in rates for Merino fleece and skirtings were 6.4 percent and 5.3 percent respectively. 2,040 bales (3.3 percent) were withdrawn prior to sale and re-offered wools made up 9.1 percent of this week's offering.
The US exchange rate was 0.31¢ higher on Monday when compared with Thursday last week. It increased by 0.46¢ on Tuesday, fell by 0.03¢ on Wednesday and increased by 0.09¢ on Thursday to close at 75.53¢, up 0.83¢ (+1.1 percent) since the last sale.
The exchange rate against the Euro rose by 0.67 Euro cents (+1.1 percent) to close at 60.26 Euro cents on Thursday night. When looked at in other currencies, the AWEX EMI increased by 16¢ in US terms and by 13¢ in Euro terms when compared with the previous sale.
marketing@alchempro.com
