The exchange rate against the Euro rose by 0.48 Euro cents (+0.8%) to close at 63.25 Euro cents on Thursday night. When looked at in other currencies, the AWEX EMI decreased by 4¢ (-0.5%) in US terms and by 4¢ (0.6%) in Euro terms when compared with the previous sale.
The market eased this week with a large offering available for sale, to be followed another large offering next week, and an increasing US exchange rate. Falls were seen across all Merino micron ranges with the biggest movements being in the 19.0 to 23.0 micron range where the AWEX average Micron Price Guides (MPGs) fell by 24¢ clean (20.0 microns) to 37¢ (19.0 microns).
The MPGs for 17.0 to 18.0 microns fell by 5 to 10¢, while the 18.5 MPG was down by 22¢ and the 24.0 micron MPG was down by 17¢. Although there were overall price falls, the better style and stronger wools were in good demand and received better prices.
Prices for the New Zealand wool were reported as similar to those received in their last sale two weeks ago. Skirtings were again in strong demand and held their ground except for an easing in the South on Wednesday. Oddments were strong all week, finishing the week with the Merino Cardings average MPG up by 10¢.
Crossbred prices also eased, with the fine / medium end most affected and their average MPGs falling by around 10¢.
There was a continued spread of buyer activity again this week, with a strong presence by buyers for Europe. Buyers for China were active, but not as strongly as in the previous three weeks.
Australian Wool Innovation Limited
marketing@alchempro.com
