The Australian wool market finished 0.9% higher, on average, at sales in Sydney, Melbourne and Fremantle this week.
The AWEX EMI rose by 11¢ (+1.1%), ending the week at 998¢/kg, just short of the magic 1000¢. This reflected increases of 5¢ (+0.5%) in the North and 16¢ (+1.7%) in the South, with their corresponding Regional Indicators finishing the week at 1035¢ and 967¢ clean, respectively. The Western Indicator rose by 6¢ (+0.6%), finishing the week at 998¢.
In a three day sale in Sydney and Melbourne, the AWEX EMI rose by 5¢ on Tuesday, by 1¢ on Wednesday and by 5¢ on Thursday. The Western Indicator rose by 3¢ on Wednesday and by 3¢ on Thursday in a two day sale in Fremantle.
62,754 bales were on offer, compared with 54,299 bales last week, of which 10.6% were passed in, comprised of 9.3% in Sydney, 10.9% in Melbourne and 12.2% in Fremantle. Pass-in rates for Merino fleece and skirtings were 11.0% and 10.6%, respectively. 2,224 bales (3.4%) were withdrawn prior to sale and re-offered bales made up 10.7% of this week's offering.
The New Zealand Merino Company offered 2,951 bales in Melbourne on Thursday of which 10.9% were passed in. 6 bales (0.2%) were withdrawn prior to sale and 11.8% of the bales were re-offers.
The US exchange rate (source RBA) was 0.33¢ lower on Monday when compared with Thursday of last week. It was down by 0.55¢ on Tuesday and by 0.36¢ on Wednesday before rising by 0.29¢ on Thursday to close at 87.35¢, down0.95¢ (1.1%) since the last sale.
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