The exchange rate against the Euro increased by 0.16 Euro cents (+0.3 percent) to close at 59.89 Euro cents on Thursday night. When looked at in other currencies, the AWEX EMI decreased by 7¢ 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 six weeks are now 86¢ US and 53 Euro cents.
In a three day sale in Sydney and Melbourne, the AWEX EMI, decreased by 2¢ on Tuesday, by 7¢ on Wednesday, and by 9¢ on Thursday. Only New Zealand was sold in Melbourne on Tuesday. The Western Indicator decreased by 13¢ on Wednesday and by 3¢ on Thursday.
Merino fleece types eased over all micron ranges, with falls of around 30¢ in the 17 to 19.5 micron Indicators and from 20 to 30¢ in the 20 to 24 micron Indicators. Better prepared wools and those with better staple strength values were less affected than other types.
Skirtings, after falling in line with fleece types early in the week, finished the week on a strong note, particularly those with low vegetable matter levels.
Crossbred wools also moved downwards, with their Indicators falling by 20 to 30¢ during the week. Oddments eased during the week, but generally resisted he extent of the change seen in fleece wools.
Demand was led by China, the topmakers and Europe.
Sales will be held in Sydney, Melbourne and Fremantle next week when 68,054 bales are currently rostered for sale.
The current forecasts over the following two weeks leading up to the recess show likely offerings of 66,200 to 71,100 bales, 18.9 percent above the corresponding weeks last year. The larger volumes should ensure no shortages for pre-Christmas deliveries.
In South African sales this week, their market was up by 3.7 percent.
Australian Wool Innovation Limited
marketing@alchempro.com
