The exchange rate against the Euro decreased by 0.30 Euro cents (-0.5 percent) to close at 59.30 Euro cents on Thursday night. When looked at in other currencies, the AWEX EMI increased by 3¢ in US terms and decreased by 3¢ in Euro terms when compared with the previous sale.
The changes in the EMI in US and Euro currencies over the last eight weeks are now 97¢ US and 47 Euro cents.
In a three day sale in Sydney and Melbourne, the AWEX EMI, decreased by 1¢ on Tuesday, gained 4¢ on Wednesday, and decreased by 3¢ on Thursday. The Western Indicator rose by 5¢ on Wednesday and by a further 1¢ on Thursday.
Fine Merino fleece wool opened on a weaker note in Sydney coming off a Newcastle sale, but was stronger in Melbourne where a good quality Tasmania offering was presented.
21 to 23 micron wools continued their strong showing throughout the sale, as did 24 micron wool this week.
Skirting types remained in strong demand, finishing the week at increased price levels. Crossbreds generally picked up during the week except for an easing in fine crossbreds on Thursday. Oddments were a little mixed on Tuesday, but firmed over the next two days.
Although demand was led by China there was continued good widespread support from buyers from other countries.
The last sales before the Christmas break will be held in Sydney, Melbourne and Fremantle next week, when 67,506 bales are currently rostered for sale.
The South African market gained 1.2 percent against an unchanged US exchange rate and a 0.8 percent weaker Euro exchange rate.
Australian Wool Innovation Limited
marketing@alchempro.com
