In a week of rising prices, the Australian Wool Market finished the week 2.5 percent higher, on average, at sales in Sydney, Melbourne and Fremantle this week.
The AWEX EMI increased by 19¢ (+2.3 percent) ending the week at 844¢/kg clean and fully recovering the 19¢ correction of last week. This reflected increases of 18¢ (+2.1 percent) in the North and 18¢ (+2.2 percent) in the South, with their corresponding Regional Indicators finishing the week at 866¢ and 824¢ clean respectively.
The Western Indicator, increased by 27¢ (+3.3 percent) finishing the week at 839¢/kg clean.
The respective Indicators are well above the their levels of five weeks ago, with the EMI and the Northern, Southern and Western Indicators being up by 103¢, 100¢, 104¢ and 122¢, respectively.
In the biggest sale of the season, 76,765 bales were on offer (compared with 54,682 last week), of which 8.9 percent were passed in, comprised of 8.3 percent in Sydney, 7.6 percent in Melbourne and 13.1 percent in Fremantle.
As is often the case in a rising market, the pass-in rate lifted yesterday (particularly in the West) when the market steadied. Pass in rates for Merino fleece and skirtings were 5.8 percent and 12.1 percent respectively.
3,849 bales (4.8 percent) were withdrawn prior to sale and re-offered wools made up 10.7 percent of this week's offering.
The US exchange rate was 0.06¢ higher on Monday when compared with Thursday last week. It decreased by 0.27¢ on Tuesday, increased by 0.08¢ on Wednesday and by 0.09¢ on Thursday to close at 76.63¢, down 0.04¢ ( 0.1 percent) since the last sale.
marketing@alchempro.com
