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AWIS wool market review - 16th February 2007

Feb '07
The Australian Wool market finished 1.5% lower, on average, at sales in Sydney, Melbourne and Fremantle this week.

The AWEX EMI decreased by 12¢ (-1.3%), ending the week at 918¢/kg clean. This reflected decreases of 17¢ (1.8%) in the North and 8¢ (-0.9%) in the South, with their corresponding Regional Indicators finishing the week at 944¢ and 896¢ clean respectively. The Western Indicator decreased by 16¢ (-1.7%), finishing the week at 930¢/kg clean.

When compared with the start of the upward movement in the market in October, the EMI and the Northern, Southern, and Western Indicators are up by 177¢ (23.9%), 178¢ (23.2%), 176¢ (24.4%) and 213¢ (29.7%), respectively. 19 to 23 average AWEX Micron Price Guides are up by 206 to 238¢ over the period and by 178¢ for 24 micron wools. At the fine end, the changes are 95¢ for 17 micron wool, 113¢ for 17.5, 128¢ for 18 and 173¢ for 18.5 micron wool.

73,411 bales were on offer (compared with 59,391 last week), of which 14.6% were passed in, comprised of 12.4% in Sydney, 12.0% in Melbourne and 23.3% in Fremantle. Pass in rates for Merino fleece and skirtings were 15.4% and 10.9% respectively. 2,384 bales (3.1%) were withdrawn prior to sale and re-offered wools made up 11.0% of this week's offering. The Southern Region offering was 38,370 bales, which together with the 37,552 bales offered the other side of last week's Launceston sale were the two largest of the season.

In a variable week, the US exchange rate was 0.76¢ lower on Monday when compared with the Thursday of last week. It decreased by 0.09¢ on Tuesday, increased by 0.70¢ on Wednesday and by 0.39¢ on Thursday to close at 78.39¢, up 0.24¢ (+0.3%) since the last sale.

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