In a three day sale, the AWEX EMI, increased by 5¢ on Tuesday, by 6¢ on Wednesday, and by 3¢ on Thursday. The Western Indicator, increased by 15¢ on Wednesday and by 9¢ on Thursday.
It was a very strong market, in which the EMI reached its highest point for the season and pass-in rates were at their lowest.
In a week when the greatest movements may have been expected to be seen in the fine wool offering in Newcastle, the increase in the market was carried by demand for the medium wools, with increases in the southern and Western Indicators exceeding that in Newcastle.
In fact the Western Indicator is now higher than the Southern Indicator. Prices increased across all micron ranges and all wool types, although prices for fine wools in Newcastle eased on Thursday.
Sales will be held in Sydney, Melbourne and Fremantle next week when 61,992 bales are currently rostered for sale. The current forecasts over the following three weeks show likely offerings of 56,700 to 64,250 bales, 9 percent above the corresponding weeks last year.
In South African sales this week, their market was quoted as up by 2.1 percent against a 1.7 percent appreciation of the Rand against US currency and 3.7 percent against the Euro. Merino wool sold well in New Zealand also.
Australian Wool Innovation Limited
marketing@alchempro.com
