Australian wool EMI falls 7.6% this week

The Australian wool exchange's (AWEX) eastern market indicator (EMI) fell by 7.6 per cent to 858ac cln/kg during sale week 10 of the current wool marketing season. The USD EMI losses were less in magnitude due to the foreign exchange rate, but still heavy as that indicator depreciated 5.5 per cent to 631 usc cln/kg, resulting in significant losses.

 

The Australian wool exchange's (AWEX) eastern market indicator (EMI) fell by 7.6 per cent to 858ac cln/kg during sale week 10 of the current wool marketing season. The USD EMI losses were less in magnitude due to the foreign exchange rate, but still heavy as that indicator depreciated 5.5 per cent to 631 usc cln/kg, resulting in significant losses.#

Price falls were across all types and descriptions at the Australian wool auctions this week, the Australian Wool Innovations Limited (AWI) said in its commentary for the week.

 

The Australian wool exchange's (AWEX) eastern market indicator (EMI) fell by 7.6 per cent to 858ac cln/kg during sale week 10 of the current wool marketing season. The USD EMI losses were less in magnitude due to the foreign exchange rate, but still heavy as that indicator depreciated 5.5 per cent to 631 usc cln/kg, resulting in significant losses.#

"As prices lowered, the passed-in rate lifted. Approximately 1 in 5 bales or 20.6 per cent of the total offering had been unable to meet the sellers' expectations for the week. Interesting to note is the high passed in rate of almost 36 per cent contained within the crossbred sector. Vendors of merino skirtings (11 per cent passed in) are tending to meet the market and to a lesser extent (18 per cent) so are the owners of the oddments/cardings wools. Merino fleece types were passed in at basically the weeks average rate," the AWI commentary said.

 

The Australian wool exchange's (AWEX) eastern market indicator (EMI) fell by 7.6 per cent to 858ac cln/kg during sale week 10 of the current wool marketing season. The USD EMI losses were less in magnitude due to the foreign exchange rate, but still heavy as that indicator depreciated 5.5 per cent to 631 usc cln/kg, resulting in significant losses.#

Compared to the same time period of last season (week 10), the first seven weeks of this season has seen 11,680 bales or 6.4 per cent more wool sold to the trade. This is despite the average prices being 37 per cent lower in comparison year-on-year and the fact that almost 18 per cent less wool has been tested so far this season.

 

The Australian wool exchange's (AWEX) eastern market indicator (EMI) fell by 7.6 per cent to 858ac cln/kg during sale week 10 of the current wool marketing season. The USD EMI losses were less in magnitude due to the foreign exchange rate, but still heavy as that indicator depreciated 5.5 per cent to 631 usc cln/kg, resulting in significant losses.#

As per the data from the Australian Wool Testing Authority (AWTA), the monthly comparisons of total weight tested for August 2020 compared with the same period last season shows 20.1 per cent less wool tested. The progressive comparison of total weight for July 2020 to August 2020 compared with the same period last season has 17.7 per cent less wool tested cumulatively. 

 

The Australian wool exchange's (AWEX) eastern market indicator (EMI) fell by 7.6 per cent to 858ac cln/kg during sale week 10 of the current wool marketing season. The USD EMI losses were less in magnitude due to the foreign exchange rate, but still heavy as that indicator depreciated 5.5 per cent to 631 usc cln/kg, resulting in significant losses.#

AWTA Ltd has tested 31.4 mkg (million kilograms) this season compared with 38.2 mkg for the equivalent period last season.

 

The Australian wool exchange's (AWEX) eastern market indicator (EMI) fell by 7.6 per cent to 858ac cln/kg during sale week 10 of the current wool marketing season. The USD EMI losses were less in magnitude due to the foreign exchange rate, but still heavy as that indicator depreciated 5.5 per cent to 631 usc cln/kg, resulting in significant losses.#

Next week, all the three Australian wool auction centres would be operating and around 23,000 bales are scheduled to be on offer. However, both Sydney and Fremantle will be just single day sales.

 

The Australian wool exchange's (AWEX) eastern market indicator (EMI) fell by 7.6 per cent to 858ac cln/kg during sale week 10 of the current wool marketing season. The USD EMI losses were less in magnitude due to the foreign exchange rate, but still heavy as that indicator depreciated 5.5 per cent to 631 usc cln/kg, resulting in significant losses.#