AWIS wool market review

19 Jan '07

3 min read

The changes in the EMI in US and Euro currencies over the last 14 weeks are now 204¢ US and 143 Euro cents. In a two day sale in Sydney and Fremantle and a three day sale in Melbourne, the AWEX EMI settled somewhat when it increased by 6¢ on Tuesday, but "took off" again on Wednesday when it rose by 38¢, before steadying on Thursday with a 3¢ lift. The Western Indicator rose by 39¢ on Wednesday and by a further 1¢ on Thursday.

Once again there were week-on-week increases across all Merino micron ranges and wool types. 17 and 17.5 micron wools fared best, with increases 83¢ and 103¢, respectively in their average Micron Price Guides. The only exception during the week was an easing in Melbourne for 23 to 25 micron wool on Thursday when a large offering from South Australia was sold. Skirtings continued in strong demand, as did oddments. Crossbreds eased slightly yesterday, but were still ahead for the week on the basis of significant gains on Wednesday.

There was widespread competition with buyers for China and the topmakers leading the way. Sales will be held in Sydney and Melbourne next week, when 44,497 bales are currently rostered for sale. Current estimates for the following three weeks range between 49,000 and 64,560, an overall increase of 1.3% over the same period last year.

The South African Market was also strong, with a 6.8% increase in prices, a total of 16.6% for the first two weeks of January.

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