The Australian wool market finished 1.3% higher, on average, at sales in Sydney, Melbourne and Fremantle this week.
The AWEX EMI rose by 13¢ (+1.3%), ending the week at 992¢/kg. This reflected increases of 9¢ (+0.9%) in the North and 15¢ (+1.6%) in the South, with their corresponding Regional Indicators finishing the week at 1028¢ and 961¢ clean, respectively. The Western Indicator rose by 13¢ (+1.3%), finishing the week at 1002¢.
In two day sale in Sydney and Melbourne, the AWEX EMI rose by 5¢ on Wednesday and by 8¢ on Thursday. The Western Indicator rose by 4¢ on Wednesday and by 9¢ on Thursday in a two day sale in Fremantle.
51,083 bales were on offer, compared with 58,235 bales last week, of which 9.8% were passed in, comprising 6.2% in Sydney, 10.1% in Melbourne and 13.7% in Fremantle. Pass-in rates for Merino fleece and skirtings were 10.0% and 6.8%, respectively. 1,190 bales (2.3%) were withdrawn prior to sale and re-offered bales made up 11.8% of this week's offering.
The New Zealand Merino Company offered 3,506 bales in Melbourne on Tuesday of which 15.9% were passed in. 16 bales (0.5%) were withdrawn prior to sale and 11.0% of the bales were re-offers.
The US exchange rate (source RBA) was 0.69¢ lower on Monday when compared with Thursday of last week. It was down by 0.96¢ on Tuesday, up by 0.31¢ on Wednesday and down by 1.14¢ on Thursday to close at 87.53¢, down 2.48¢ (-2.8%) since the last sale.
The exchange rate against the Euro fell by 2.44 Euro cents (-4.0%) to close at 58.90 Euro cents on Thursday night. When looked at in other currencies, the AWEX EMI fell by 13¢ (-1.5%) in US terms and by 17¢ (-2.8%) in Euro terms when compared with the previous sale.
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