Better styled wools continue to attract good support
20 Nov '07
4 min read
The Australian wool market finished 2.1% higher, on average, at sales in Sydney, Melbourne and Fremantle this week after the US exchange rate fluctuated over a 5¢ range.
The AWEX EMI rose by 20¢ (+2.1%), ending the week at 979¢/kg. This reflected increases of 23¢ (+2.3%) in the North and 18¢ (+1.9%) in the South, with their corresponding Regional Indicators finishing the week at 1019¢ and 946¢ clean, respectively. The Western Indicator rose by 19¢ (+2.0%), finishing the week at 989¢.
In a three day sale three day sale in Sydney and Melbourne, the AWEX EMI rose by 41¢ on Tuesday, fell by 10¢ on Wednesday and by 11¢ on Thursday. The Western Indicator rose by 33¢ on Wednesday and fell by 14¢ on Thursday in a two day sale in Fremantle.
58,235 bales were on offer, compared with 52,753 bales last week, of which 6.2% were passed in, comprised of 4.8% in Sydney, 4.2% in Melbourne and 13.5% in Fremantle. Pass-in rates for Merino fleece and skirtings were 5.5% and 4.9%, respectively. 1,471 bales (2.5%) were withdrawn prior to sale and re-offered bales made up 10.7% of this week's offering.
The US exchange rate (source RBA) was 3.20¢ lower on Monday when compared with Thursday of last week, down by a further 0.33¢ on Tuesday, up by 1.35¢ on Wednesday and down by 0.25¢ on Thursday to close at 90.01¢, down 2.43¢ ( 2.6%) since the last sale.
The exchange rate against the Euro fell by 1.83 Euro cents (-2.9%) to close at 61.34 Euro cents on Thursday night. When looked at in other currencies, the AWEX EMI rose by 3¢ in US terms on Tuesday, before finishing the week down by 5¢ (-0.6%) and down by 5¢ (-0.8%) in Euro terms when compared with the previous sale.
marketing@alchempro.com
