Good week for better skirting types in Australia

24 Sep '12

4 min read

The New Zealand Merino Company also offered 897 bales in Melbourne on Wednesday of which 28.1% were passed in. 6.2% of the bales were re-offers.

The US exchange rate picked up sharply on the previous Friday after the United States Federal Reserve announced its third round of quantitative. It reached a six month high over the following weekend. This was followed by an easing during the current week. Financial analysts associated Thursday’s fall in the US exchange rate with the announcement of a low Chinese Purchasing Managers’ Index (PMI).

It moved back to 104.69¢ at Friday’s close.

It was a good week for the better skirting types, which generally lifted in price, or held firm during the week. It was also a good week for crossbred types. The 3.6% fall in the 32 micron MPG needs to be kept in context, as it rose by 7.9% last week; and is well up on the corresponding value of two weeks ago. Oddments were a bit mixed, but mostly had a reasonable week. This was particularly so for locks which rose during the week.

Buyers for China were dominant this week, followed by strong support from buyers for Europe and India.

Highlights from the Australian Bureau of Statistics export data for July, and for the July to July period for the top five export destinations and three other key destinations follow.

Sales will be held in Sydney, Melbourne and Fremantle next week, when 37,109 bales are currently rostered for sale over Wednesday and Thursday. Present estimates for the following two sales (Weeks 14 and 15) are 47,329 and 42,100 bales, respectively; a decrease of 0.1% over the three sale period when compared with last year.

Australian Wool Industries Secretariat Inc (AWIS)

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