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AWIS wool market down 0.4% at the start of the season

10 Jul '06

3 min read

Australian Wool Innovation Limited (AWI) announces:

The Australian Wool Market fell by 0.4 percent, on average, to start the 2006/07 season at sales in Sydney, Melbourne and Fremantle.

This was the first week in which AWEX used updated calculations to determine the various Indicator values. Last week's Indicators have been recalculated on the new basis to enable correct comparisons between this week and last week's market. The new calculations result in higher Indicator values. Last Week's closing Indicators move from 729 to 749¢ (EMI), 740 to 771¢ (Northern Indicator), 720 to 730¢ (Southern Indicator) and 713 to 735¢ (Western Indicator).

The AWEX EMI remained the same ending the week at 749¢/kg clean. This reflected a decrease of 2¢ (-0.3 percent) in the North and an increase of 2¢ (-0.3 percent) in the South, with their corresponding Regional Indicators finishing the week at 769¢ and 732¢ clean respectively. The Western Indicator decreased by 8¢ ( 1.1 percent) finishing the week at 727¢/kg clean.

73,877 bales were on offer (compared with 54,187 last week). There was a good clearance, with 11.7 percent of the bales offered passed in, comprising 11.1 percent in Sydney, 9.8 percent in Melbourne and 14.3 percent in Fremantle. Pass in rates for Merino fleece and skirtings were 11.5 percent and 14.8 percent respectively. 1,586 bales (2.1 percent) were withdrawn prior to sale and re-offered wools made up a 14.1 percent of this week's offering.

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