The exchange rate against the Euro decreased by 0.32 Euro cents (-0.5 percent) to close at 59.73 Euro cents on Thursday night. When looked at in other currencies, the AWEX EMI increased by 14¢ in US terms and by 9¢ in Euro terms when compared with the previous sale.
The changes in the EMI in US and Euro currencies over the last five weeks have been 93¢ US and 62 Euro cents.
In a three day sale in Sydney and Melbourne, the AWEX EMI, increased by 8¢ on Tuesday, by 11¢ on Wednesday, and remained the same on Thursday. The Western Indicator increased by 30¢ on Wednesday and decreased by 3¢ on Thursday.
There were significant price rises over the first two days (as some buyers who were not as strong last week returned to the market), followed by a steadying/slight easing on Thursday. It was a very good result, given that there was an additional 22,000 bales on offer.
The greatest gains were again seen in the mid-micron wools, with 21 to 23 micron indicators being 150 to 160¢ up on their values of five weeks ago. 19 to 20 micron wools are around 20¢ below those figures and fine wools are up by 70 to 100¢.
Skirtings were in strong demand all week, crossbreds tended to be easier and oddments finished on a strong note after easing on Tuesday and Wednesday.
Demand was led by China, but there was keen demand from Europe and other quarters resulting in overall keen and widespread competition.
In South African sales this week, their market was up by 3.3 percent, with the Rand appreciating by 0.8 percent against US currency and by 0.6 percent against the Euro.
Australian Wool Innovation Limited
marketing@alchempro.com
