AWEX wool indicator up 1.4% from last week

25 Jun '12

4 min read

But, serious concerns still remain in the Eurozone; and the downgrading of the credit rating of 15 major banks by Moody’s on Thursday night (Australian time) had a major negative impact on economic confidence and the US exchange rate.

It was a good week for skirtings type also, with prices moving up on both days. Pass-in rates followed the downward trend of other types and at 8.3% were well below those of last week.

Crossbred wools were either too few in number to quote, or their prices moved up by similar amounts to those of medium Merino wools.

Oddments also had a better week after several weeks of mostly downward movements. The average AWEX Merino Cardings Indicator was virtually unchanged. Buyers for China were dominant this week, followed by strong support from buyers for Europe and India.

Sales will be held in Sydney, Melbourne and Fremantle next week, when 29,269 bales are currently rostered for sale. Present estimates for the following two sales (Weeks 01 and 02) are 31,400 and 37,800 bales, respectively; a decrease of 24.0% over the three sale period when compared with last year. Auction quantities are invariably difficult to forecast at this time of the year. History shows that here can be some sudden fluctuations

Sales are in recess in South Africa until 15 August.

Australian Wool Industries Secretariat Inc (AWIS)

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