The Australian Wool Market eased slightly against a sharply rising US exchange rate, finishing the week 0.1 percent lower, on average, at sales in Newcastle, Melbourne and Fremantle.
The AWEX EMI decreased by 1¢ (-0.1 percent) ending the week at 825¢/kg clean. This reflected a decrease of 3¢ ( 0.4 percent) in the North and no change in the South, with their corresponding Regional Indicators finishing the week at 852¢ and 802¢ clean respectively. The Western Indicator also remained unchanged, finishing the week at 823¢/kg clean.
Despite the easing in the market, the respective Indicators remain well above the their levels of seven weeks ago, with the EMI and the Northern, Southern and Western Indicators being up by 84¢, 86¢, 82¢ and 106¢, respectively.
21 to 23 Micron Indicators are now up by 125 to 135¢ over the period and by 79¢ for 24 micron wools. At the fine end, the changes are 11¢ for 17 micron wool, 50¢ for 18 micron wool and around 90 to 100¢ for 19 to 20 micron wool.
Pass in rates for Merino fleece and skirtings were 12.3 percent and 9.4 percent respectively. 2,700 bales (4.1 percent) were withdrawn prior to sale and re-offered wools made up 10.5 percent of this week's offering.
The US exchange rate was 0.45¢ higher on Monday when compared with Thursday last week. It decreased by 0.08¢ on Tuesday, increased by 0.39¢ on Wednesday and by 0.25¢ on Thursday to close at 78.50¢, up 1.01¢ (+1.3 percent) since the last sale.
marketing@alchempro.com
