The exchange rate against the Euro fell by 0.92 Euro cents (-1.5%) to close at 58.45 Euro cents on Wednesday night. When looked at in other currencies, the AWEX EMI decreased by 12¢ ( 1.3%) in US terms and by 6¢ (-1.1%) in Euro terms when compared with the previous sale.
The market opened on a good basis after the Easter break, with the medium and strong Merino wools picking up on Tuesday and the fine wools following suit on Wednesday. There was a slight easing on Thursday when the US exchange rate lifted for the first time during the week. The better styled and stronger wools with low mid-breaks again led the demand.
Average AWEX Micron Price Guides (MPGs) were up by 12¢ clean for 16.5 microns, by 21¢ for 17.0 microns, by 14¢ for 17.5 microns, by 13¢ for 18.0 microns, by 8¢ for 18.5 microns, by 15¢ for 19.0 microns and by 11¢ for 19.5 microns. The 20.0 micron wool average MPG was up by 5¢ clean, 21.0 microns was unchanged, 22.0 microns was up by 4¢, 23.0 microns by 7¢, and 24.0 microns by 3¢.
Skirtings had a mixed week with the lower VM types finishing firm or up and those with heavy fault levels losing ground. Oddments opened on a weaker note, but recovered some of their losses by the end of the week. It was generally a good week for crossbreds, with gains of 8 t0 10¢ in all their average MPGs.
Buyers for China were dominant followed by those from Europe.
Sales will be held in Sydney, Melbourne and Fremantle next week, when 58,701 bales are currently rostered for sale. Present estimates for the following three sales vary from 48,900 to 52,495 bales, an increase of 7.7% over the four sale period when compared with last year.
In South African sales, the Cape Wools Indicator was up by 0.3% since last sale three weeks ago against a 0.7% depreciation of the Rand against the US Dollar and a 2.1% depreciation against the Euro.
Australian Wool Innovation Limited
20240830145952.gif)
.jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "UBM China (Shanghai)")
-Ltd..jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Thermore (Far East) Ltd.")
