News Flash

AWIS wool market up 1% on sales this week

05 Jul '06

3 min read

Australian Wool Innovation Limited (AWI) announces:

The Australian Wool Market finished the 2005/06 season 1.0 higher, on average, at sales in Sydney, Melbourne and Fremantle.

The AWEX EMI increased by 4¢ (+0.6), ending the week at 729¢/kg clean. This reflected increases of 2¢ (+0.3) in the North and 7¢ (+1.0) in the South, with their corresponding Regional Indicators finishing the week at 740¢ and 720¢ clean respectively. The Western Indicator increased by 12¢ (+1.7) finishing the week at 713¢/kg clean.

The EMI is now 96¢ (15.2) above the closing value at sales prior to Christmas, but 25¢ below the season peak of 754¢ achieved in the second sale in March.

The corresponding Market Indicators at the end of last season were – EMI (718¢), North (726¢), South (711¢), and the West (704¢).

54,187 bales were on offer (compared with 36,305 last week). There was a good clearance, with 12.0 of the bales offered passed in, comprising 11.2 in Sydney, 10.3 in Melbourne and 15.8 in Fremantle. Pass-in rates for Merino fleece and skirtings were 12.6 and 12.7 respectively. 2,231 bales (4.0) were withdrawn prior to sale; and re-offered wools made up a relatively high 20.1 of this week's offering as the financial year drew to a close.

The US exchange rate decreased by 0.85¢ on Monday when compared with the previous Thursday, increased 0.20¢ on Tuesday, decreased by 0.19¢ on Wednesday and again by 0.35¢ on Thursday to close at 72.84¢, down 1.19¢ (-1.6) since the last sale.

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