The Australian Wool Market eased this week, finishing the week 2.0 percent lower, on average, at sales in Sydney, Melbourne and Fremantle.
The AWEX EMI decreased by 18¢ (-2.1 percent) ending the week at 826¢/kg clean. This reflected decreases of 11¢ ( 1.3 percent) in the North and 22¢ (-2.7 percent) in the South, with their corresponding Regional Indicators finishing the week at 855¢ and 802¢ clean respectively. The Western Indicator, decreased by 16¢ (-1.9 percent) finishing the week at 823¢/kg clean.
Despite the easing in the market, the respective Indicators remain well above the their levels of six weeks ago, with the EMI and the Northern, Southern and Western Indicators being up by 105¢, 89¢, 82¢ and 104¢, respectively.
21 to 23 Micron Indicators are now up by 125 to 135¢ over the period and by 99¢ for 24 micron wools. At the fine end, the changes were 13¢ for 17 micron wool, 55¢ for 18 micron wool and around 100¢ for 19 to 20 micron wool.
56,590 bales were on offer (compared with 76,765 last week), of which 19.7 percent were passed in, comprised of 11.8 percent in Sydney (where the fall in the market was least), 21.8 percent in Melbourne and 27.0 percent in Fremantle, reflecting the downturn in the market.
The New Zealand Merino Company offered 3,772 bales for sale on Tuesday, of which 14.4 percent were re-offered wools. 542 bales (14.4 percent) were passed in and 73 bales (1.9 percent) were withdrawn before sale.
The US exchange rate was 0.24¢ higher on Monday when compared with Thursday last week. It increased by 0.08¢ on Tuesday, by 0.26¢ on Wednesday and by 0.28¢ on Thursday to close at 77.49¢, up 0.86¢ (+1.1 percent) since the last sale.
marketing@alchempro.com
