The exchange rate against the Euro rose by 0.19 Euro cents (+0.3%) to close at 59.76 Euro cents on Thursday night. When looked at in other currencies, the AWEX EMI was unchanged in US terms and up by 8¢ (+1.4%) in Euro terms when compared with the previous sale.
It was another good market this week, with the market finishing on a strong note as it goes into the last sale before the Christmas break.
Demand for the stronger and better styled wools was very keen, as was seen in the offering of 5,283 bales of Tasmanian wool in Melbourne on Tuesday.
There were reported premiums of 100¢ and AWEX Southern Market Indicator rose by 12¢ on the day compared with a 5¢ increase in the North (which was coming off a Newcastle sale).
Lower strength and poorer style wools, although attracting competition, were quoted as easing or irregular. The New Zealand wools offered in Melbourne on Thursday sold well.
Prices rose across all Merino micron ranges and types with the average AWEX Micron Price Guides (MPGs) up by 10 to 14¢ clean for 16.5 to 17.5 microns, by 23¢ for 18, by 13 for 18.5, by 17 to 20¢ for 19.0 to 20.0 microns, by 2 to 7¢ for 21.0 to 23.0 microns and 15¢ for 24 microns. Merino skirtings once again finished on a positive note, with those from Tasmania attracting strong competition on Tuesday.
Oddments also were in good demand during the week, with their average MPG up by 4¢. Fine crossbreds gained a little, whereas medium and coarse crossbreds eased slightly.
There was a good spread of competition with buyers for China very strong and good competition from Italy, the rest of Europe and Korea. In the last sale before the Christmas break, sales will be held in Sydney, Melbourne and Fremantle next week, when 64,157 bales are currently rostered for sale. This is slightly up (+1.9%) on the same sale last year.
In South African sales, the Cape Wools Indicator was down by 4.6% since last week against a 2.6% appreciation of the Rand against the US Dollar and a 2.8% appreciation against the Euro.
Australian Wool Innovation Limited
marketing@alchempro.com
