The Australian Wool Market finished the week 0.5 percent higher, on average, at sales in Sydney, Melbourne and Fremantle this week.
The AWEX EMI increased by 6¢ (+0.8 percent) ending the week at 753¢/kg clean. This reflected increases of 2¢ (+0.3 percent) in the North and 9¢ (+1.2 percent) in the South, with their corresponding Regional Indicators finishing the week at 774¢ and 736¢ clean respectively The Western Indicator increased by 1¢ (+0.1 percent) finishing the week at 726¢/kg clean.
58,015 bales were on offer (compared with 59,382 last week), of which 9.2 percent were passed in, comprised of 6.9 percent in Sydney, 8.9 percent in Melbourne and 12.7 percent in Fremantle.
Pass in rates for Merino fleece and skirtings were 8.2 percent and 12.5 percent respectively. 1,478 bales (2.5 percent) were withdrawn prior to sale and re-offered wools made up 11.2 percent of this week's offering.
The New Zealand Merino Company offered 2,410 bales, including 7.0 percent of reoffered wool, for sale in Melbourne on Wednesday. 290 bales (12.0 percent) were passed in and 16 bales were withdrawn before sale.
The US exchange rate was 1.42¢ lower on Monday when compared with Thursday last week. It increased by 0.04¢ on Tuesday, decreased by 0.19¢ on Wednesday and increased by 0.08¢ on Thursday to close at 75.15¢, down 1.49¢ (-1.9 percent) since the last sale.
The exchange rate against the Euro decreased by 0.59 Euro cents ( 1.0 percent) to close at 59.23 Euro cents on Thursday night. The decline in the US exchange rate is attributed to a strengthening of the US$ and a weakening of the A$ as the prices for resources softened.
-Ltd..jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Thermore (Far East) Ltd.")
.jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Telangana State Industrial Infrastructure Corporation Limited (TSllC Ltd)")
.jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Taiwan Textile Federation (TTF)")
