The exchange rate against the Euro decreased by 0.56 Euro cents (-0.9 percent) to close at 61.79 Euro cents on Thursday night. When looked at in other currencies, the AWEX EMI increased by 10c in US$ terms and by 11c in Euro terms when compared with last week's sale.
On a daily basis, the AWEX EMI remained unchanged on Tuesday, increased by 22c on Wednesday and by a further 3c on Thursday. The Western Indicator rose by 22c on Wednesday and remained the same yesterday.
It was difficult to gauge the market on Tuesday, with a nonstandard offering of mainly oddments (which were in strong demand), bulk class and interlots in Launceston. No fine or medium wools were on offer.
The medium and broader wools experienced some of the gains which had previously been mostly restricted to the fine wools. Thursday saw further, but more subdued gains, with some Micron indicators showing small decreases.
Buyers for China were again in force, as were buyers for Italy in the Launceston fine wool offering. Sales will be held in Sydney, Melbourne and Fremantle next week, when 75,587 bales are currently rostered for sale.
The ABS export statistics for December show that Australia exported 3.9 percent less wool in the first six months of this season and that it was valued at 13.9 percent less than in the same period last year.
Exports to China were up by 19.3 percent and now comprise 62.7 percent of the progressive total weight, compared with 54.3 percent in all of 2004/05.
Australian Wool Innovation Limited
marketing@alchempro.com
