Merino Cardings Indicator fall by 32¢

21 Apr '08

3 min read

It was a generally easier market this week that was also influenced by the appreciation in the US exchange rate. However, the 19¢ fall in the EMI was exaggerated by the drop of 28¢ reported for the Northern EMI, compared with the 11¢ fall in the Southern Indicator.

This appears to partly due be a correction in the Northern Indicator from last week when it looked surprisingly high and partly due to a change in the quality of the offering. Last week's offering in the North saw very good prices paid for some lots.

Average AWEX Micron Price Guides (MPGs) were down by 10¢ for 17.5 microns, by 16¢ for 18.0 microns, by 7¢ for 18.5 microns, by 19¢ for 19.0 microns and by 15¢ for 19.5 microns. The 20.0 micron wool average MPG was down by 25¢ clean, 21.0 microns by 12¢, 22.0 microns by 4¢, 23.0 microns by 4¢, and 24.0 microns by 10¢.

Merino skirtings followed much of the fleece pattern with the better styled wools least affected. Oddments continued to ease, with the Merino Cardings Indicator down by a further 32¢. Crossbred wool average MPGs were down by 1 to 2¢.

Buyers for China were dominant with a strong presence of buying for Europe.

Sales will be held in Sydney, Melbourne and Fremantle next week when 51,625 bales are currently rostered for. Present estimates for the following three sales vary from 46,700 to 50,650 bales, an increase of 9.7% over the four sale period when compared with last year.

In South African sales, the Cape Wools Indicator was down by 0.4% since last sale two weeks ago against a 1.4% depreciation of the Rand against the US Dollar and a 3.2% depreciation against the Euro.

Australian Wool Innovation Limited

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