The Australian wool market finished 3.1% higher, on average, at sales in Sydney, Melbourne and Fremantle this week.
The AWEX EMI rose by 25¢ (+2.9%), ending the week at 899¢/kg. This reflected increases of 29¢ (+3.2%) in the North and 21¢ (+2.4%) in the South, with their corresponding Regional Indicators finishing the week at 923¢ and 879¢ clean, respectively. The Western Indicator rose by 32¢ (+3.7%), finishing the week at 906¢.
In a two day sale in Sydney and Melbourne, the AWEX EMI rose by 25¢ on Wednesday and was unchanged on Thursday. In a one day sale in Fremantle, the Western Indicator rose by 32¢ on Wednesday.
35,166 bales were on offer, compared with 52,949 bales last week, of which 7.9% were passed in, comprised of 8.7% in Sydney, 6.4% in Melbourne and 10.3% in Fremantle. Pass-in rates for Merino fleece and skirtings were 7.1% and 6.6%, respectively. 3,747 bales (9.6%) were withdrawn prior to sale and re-offered bales made up 8.6% of this week's offering.
The US exchange rate (source RBA) was 0.41¢ higher on Tuesday when compared with Thursday of last week (Monday was a Bank Holiday). It was down by 0.21¢ on Wednesday and up by 0.95¢ on Thursday, to close at 86.60¢, up 1.15¢ (+1.3%) since the last sale.
The exchange rate against the Euro rose by 0.18 Euro cents (+0.3%) to close at 62.72 Euro cents on Thursday night. When looked at in other currencies, the AWEX EMI increased by 32¢ (+4.3%) in US terms and by 17¢ (+3.1%) in Euro terms when compared with the previous sale.
marketing@alchempro.com
