The changes in the EMI in US and Euro currencies since mid-October are now 173¢ US (31.2%) and 116 Euro cents (26.2%). In a three day sale in Sydney and Launceston, the AWEX EMI was unchanged on Tuesday, increased by 4¢ on Wednesday and decreased by 5¢ on Thursday. The Western Indicator increased by 5¢ on Wednesday and decreased by 2¢ on Thursday.
The overall market held up well, although closing on a weaker note and Tasmanian fine wool prices falling short of grower hopes. The better fine wools, particularly those with good Staple Strength results were in keen demand, whereas there was an easing for other fine wools.
Middle micron wools all gained during the week. Skirtings continued to be in strong demand with some very keen prices paid for the top Tasmanian ones on Wednesday. Oddments all rose during the week, as did medium and coarse crossbreds. The competition was led by buyers for China with support from the topmakers. As expected, buyers for Italy were dominant on the premium fine wools in Launceston.
Sales will be held in Sydney, Melbourne and Fremantle next week, when 76,373 bales are currently rostered for sale. Current estimates for the following three weeks range between 56,000 and 68,200, a decrease of 2.1% over the same period last year. Sale quantities were increasing at this time last year in response to the lift in the market at that time. In South Africa, the Cape Wools Indicator fell by 0.4%, while currency was up by 1.4% against the US and 1.1% against the Euro.
Australian Wool Innovation, Australia
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.jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "UBM China (Shanghai)")
-Ltd..jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Thermore (Far East) Ltd.")
