When looked at in other currencies, the AWEX EMI increased by 7¢ (+0.8%) in US terms and by 1¢ (+0.2%) in Euro terms when compared with the previous sale.
The changes in the EMI in US and Euro currencies since mid October are now 291 US¢ (+52.5%) and 183 Euro cents (+41.4%). The EMI in US terms (845¢) is now 150¢ above the 2002/03 peak of 695. In a two day sale, the AWEX EMI decreased by 11¢ on Wednesday and by 7¢ on Thursday.
The strength of this week's market depends on where one is placed in the pipeline. For growers, the market came back by 2%, but for buyers the market was stronger both in US and Euro terms. There were falls across most micron ranges, with the greatest (around 40¢ clean on average) being among the fine wools as they gave up some of their gains since Easter and, in particular, over the previous three weeks.
Nevertheless, the average MPGs for 16.5 to 18 micron wool today are 105 to 119¢ clean above their immediate post Easter prices while those for 18.5 to 19.5 micron wool range from +75 to +93¢. Medium wool average MPGs eased by 14 to 28¢ during the week, while the 24 micron MPG was up slightly. The demand for skirtings continues to be strong, as evidenced by a pass-in rate of 5.8% compared with 14.3% for fleece wools.
The trade reports the availability of some good quality Tasmanian skirtings on Thursday. Oddments finished on a firm note after easing slightly on Wednesday. Crossbreds were down slightly after falling on Wednesday and recovering to a lesser degree yesterday.
Buyers for China continue to dominate the market.
Sales will be held in Sydney, Melbourne and Fremantle next week, when 50,600 bales are currently rostered for sale. Current estimates for the following three sales (including Sale 1 of next season) vary from 26,575 (North and South only) to 52,300, an decrease of 16.1% over the four sale period when compared with last year. There were no sales in South Africa this week.
Australian Wool Innovation Limited
marketing@alchempro.com
