Aussie wool market closes on positive note last week

03 Dec '12

4 min read

The US exchange rate moved up significantly during the week. Most of the gain occurred early in the week; and were attributed to a general lift in global economic confidence by financial analysts. Attention in the coming week will focus on the Reserve Bank meeting on Tuesday and whether there will be a 0.25% cut in the official cash rate.

Skirtings started the week in good demand and finished very strongly on Thursday. Crossbred got away to a slow start with slight falls in their AWEX MPGs, but finished in good demand on Thursday. It was a very good week for oddments, with strong price gains on each day. The average AWEX Merino Cardings Price Guide was up by 5.7% since last week.

Buyers for China were dominant this week, followed by strong support from buyers for India and Korea.Highlights from the Australian Bureau of Statistics export data for September, and for the July to September period for the top five export destinations and for three other key destinations .

Sales will be held in Sydney, Melbourne and Fremantle next week, when 47,116 bales are currently rostered for sale. The present estimate for the following sale (Week 24) is 49,534 bales; an increase of 1.3% over the two sale period when compared with last year.The New Zealand Merino Company is rostered to offer 1,000 bales in Week 24.

Australian Wool Industries Secretariat Inc

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