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Medium/broad wools do best, AWIS
28
Jun '10
The Australian wool market finished 0.3% lower, on average, at sales in Sydney and Melbourne this week when the US exchange rate rose by 1.5%.

25,721 bales were on offer, compared with 31,743 bales last week (when all three regions sold). 7.8% were passed in, comprised of 6.0% in Sydney and 8.6% in Melbourne. Pass-in rates for Merino fleece and skirtings were 7.6% and 4.6%, respectively.

551 bales (2.1%) from the expected offering of 26,272 bales were withdrawn prior to sale and re-offered bales made up 9.9% of the final offering. 23,703 bales were cleared to the trade.

The US exchange rate continues to rise and is no up by 4.1% compared with Thursday of two weeks ago.

In a small sale, the outcomes were similar to last week with good demand in the sale rooms and the EMI up in US currency, but down in Australian currency due to the rise in the US exchange rate. The medium / broad wools did best, which was also similar to last week. The average AWEX MPG for 24 microns has risen by 20¢ over the last two sales against a limited offering.

Skirting types were in good demand finishing the week with prices up on last week. Crossbred prices eased this week with their average AWEX MPGS down by 0.2% at the fine end, by around 1% some for medium types and by 2.8% at the coarse end. Oddments were in strong demand again, with the average AWEX Merino Cardings Price Guide up by 3.3% after last week's fall of 4.2%.

Buyers for China were again dominant followed by buyers for India, Taiwan, and Europe.

Sales will be held in Sydney, Melbourne and Fremantle next week, when 29,373 bales are currently rostered for the last sale of the season. Present estimates for the following two sales (Weeks 01 and 02) are 40,900 and 31,300 bales. As mentioned last week, this is the first wool selling season with 53 sale weeks since 2003/04.

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Australian Wool Industries Secretariat

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