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AWIS wool market drops 1.1% in Melbourne this week

14 Jul '06

3 min read

Australian Wool Innovation Limited (AWI) announces:

The Australian Wool Market fell by 1.1 percent, on average, in Melbourne this week. Sydney and Fremantle are in recess.

The AWEX EMI decreased by 5¢ (-0.7 percent) ending the week at 744¢/kg clean. This reflected a decrease of 8¢ (-1.1 percent) in the South, where the Market Indicator finished the week at 724¢ clean. The Northern and Western Indicator remained the same, while in recess, at 769¢ and 727¢/kg clean respectively.

25,371 bales were on offer (compared with the Australia wide total of 73,877 and a Southern total of 19,503 last week), of which 17.1 percent of the bales offered were passed in. Pass in rates for Merino fleece and skirtings were 18.8 percent and 15.8 percent respectively. 379 bales (1.5 percent) were withdrawn prior to sale and re-offered wools made up 11.9 percent of this week's offering.

The US exchange rate was 0.98¢ higher on Monday when compared with the previous Thursday. It then decreased 0.32¢ on Tuesday and increased by 0.57¢ on Wednesday to close at 75.44¢, up 1.23¢ (+1.7 percent) since the last sale. The exchange rate against the Euro increased by 0.82 Euro cents (+1.4 percent) to close at 59.10 Euro cents on Wednesday night. When looked at in other currencies, the AWEX EMI rose by 5¢ in US terms and by 3¢ in Euro terms when compared with the previous sale.

In a two day sale in Melbourne, the AWEX EMI decreased 4¢ on Tuesday and by 1¢ on Wednesday.

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