Wool market shows moving in positive range, says AWI
13 Feb '06
3 min read
Australian Wool Innovation Limited informed that the Australian wool market continued its strong upward movement, with prices finishing 3.5 percent higher, on average, at sales in Sydney, Launceston and Fremantle, making a total upward movement of 15.6 percent since the resumption of sales in January.
The AWEX EMI increased by 25c (+3.6 percent) ending the week at 729c clean. This reflected increases of 27c (+3.8 percent) in the North and 25c (+3.6 percent) in the South, with their corresponding Regional Indicators finishing the week at 745c and 715c clean respectively. The sale in Fremantle saw the Western Indicator increase by 22c (+3.2 percent), finishing the week at 701c/kg clean.
The EMI has now risen by 96c over the last four weeks and is 4c below the season peak of 735c recorded in Week 2 of selling.
In a smaller week with the Launceston sale, 47,842 bales were on offer (compared with 61,030 last week), of which 8.4 percent were passed in, comprised of 5.7 percent in Sydney, 6.0 percent in Launceston and 12.3 percent in Fremantle.
The Fremantle pass-in rate was 17.4 percent yesterday, reflecting some considerable seller optimism about the market. Pass-in rates for Merino fleece and skirtings were 9.0 percent and 6.0 percent respectively. 2.457 bales (4.9 percent) were withdrawn prior to sale and re-offered wools made up 16.3 percent of this week's offering.
The US exchange rate decreased by 0.56c on Monday when compared with theprevious Thursday, followed by a further 0.39c on Tuesday, 0.44c on Wednesday and a rise of 0.18c on Thursday to close at 73.99c, down 1.21c (-1.6 percent) for the week.
marketing@alchempro.com
