The re-offer rate has risen in all Regions and has averaged 16.9 percent nationally (peaking at 19.6 percent in early February) over the last four weeks compared with 11.7 percent prior to that.
The US exchange rate increased by 0.25¢ on Monday when compared with the previous Thursday, followed by a decrease of 0.32¢ on Tuesday, an increase of 0.05¢ on Wednesday and a decrease of 0.28¢ on Thursday to close at 73.59¢, down 0.30¢ (-0.4 percent) for the week.
The exchange rate against the Euro decreased by 0.38 Euro cents (-0.6 percent) to close at 61.79 Euro cents on Thursday night. When looked at in other currencies, the AWEX EMI increased by 8¢ in US$ terms and by 6¢ in Euro terms when compared with last week's sale.
On a daily basis, the AWEX EMI increased by 5¢ on Tuesday when only Newcastle results were included. Note, the Northern Indicator had increased by 9¢. The EMI rose by a further 9¢ on Wednesday and was unchanged yesterday.
It was another good week with keen competition over all types. Sales opened on a strong note in Newcastle, with fine wool indicators moving upwards by 25¢.
Wednesday saw further increases in Newcastle and a very strong market the South, particularly in the 19 to 21 micron wools, where it appears that some futures positions were being covered. Some of these gains were given back on Thursday, when there was a reduction in buying activity in this micron range, accounting for the 2¢ fall in the Southern Indicator on the day.
Australian Wool Innovation Limited
marketing@alchempro.com
