In a second week which strongly favoured sellers, the Australian Wool Market finished the week 3.6 percent higher, on average, at sales in Sydney, Melbourne and Fremantle this week, with the greatest gains made on Thursday.
The AWEX EMI increased by 27¢ (+3.6 percent) ending the week at 782¢/kg clean. This reflected increases of 28¢ (+3.6 percent) in the North and 26¢ (+3.5 percent) in the South, with their corresponding Regional Indicators finishing the week at 803¢ and 764¢ clean respectively. The Western Indicator, increased by 28¢ (+3.8 percent) finishing the week at 769¢/kg clean.
The four Market Indicators are now above the early season calendar peaks established in March. The EMI was 775¢ on that occasion.
54,527 bales were on offer (compared with 58,929 last week), of which 5.3 percent were passed in, comprised of 3.9 percent in Sydney, 4.8 percent in Melbourne and 8.5 percent in Fremantle.
The New Zealand Merino Company offered 3,026 bales (including 8.7 percent of re-offered wool) for sale on Tuesday. 1,728 bales (42.9 percent) were passed in and 151 bales (3.4 percent) were withdrawn prior to sale.
The US exchange rate was 0.48¢ higher on Monday when compared with Thursday last week. It decreased by 0.28¢ on Tuesday, increased by 0.39¢ on Wednesday and by 0.15¢ on Thursday to close at 76.27¢, up 0.74¢ (+1.0 percent) since the last sale. The exchange rate against the Euro rose by 0.14 Euro cents (+0.2 percent) to close at 60.40 Euro cents on Thursday night.
marketing@alchempro.com
