The last few weeks have seen wide fluctuations in exchanges rates, particularly the US exchange rate for which the daily closing rates have ranged from 87.53¢ to 93.76¢. During that time the only change in Australia's economic/financial circumstances has been the 0.25% lift in interest rates.
It was a good market this week. Demand was keen across all wool types and micron ranges and the week closed on a positive note.
Medium micron Merino wools added to last week's significant gains and the fine wools lifted after coming back last week. Demand was very keen for the better styled wools and those with high Strength values and low Mid Breaks.
Average AWEX Micron Price Guides (MPGs) were up by 36¢ for 16.5 microns, by 15¢ for 17.0, by 29¢ for 17.5, by 22¢ for 18.0, by 11¢ for 18.5, by 17¢ for 19.0, by 11¢ for 19.5 to 21.0, by 6¢ for 22.0 and 23.0, and by 10¢ for 24.0 microns.
Skirtings were in strong demand and made good gains, as did oddments. Crossbred prices which have struggled all year received a good boost this week, particularly in the South. Crossbred average MPGs rose 10 to 17¢ over the week.
The New Zealand Merino Company prices were quoted as unchanged on the last sale four weeks ago.
There was a good spread of buyers in the top ten on each day with buyers for China and Europe all very active.
Sales will be held in Newcastle, Melbourne and Fremantle next week, when 54,472 bales are currently rostered for sale. Present estimates for the following two sales vary from 52,100 to 61,805 bales, a decrease of 12.8% over the three sale period when compared with last year.
In South African sales, the Cape Wools Indicator was down by 1.4% since last week against a 1.9% depreciation of the Rand against the US Dollar and a 2.9% depreciation against the Euro.
Australian Wool Innovation Limited
marketing@alchempro.com
