AWIS wool market review - 16th February 2007

16 Feb '07

3 min read

The exchange rate against the Euro decreased by 0.33 Euro cents (0.5%) to close at 59.68 Euro cents on Thursday night. When looked at in other currencies, the AWEX EMI decreased by 7¢ in US terms and by 10¢ in Euro terms when compared with the previous sale.

The changes in the EMI in US and Euro currencies since mid-October are now 166¢ US (30.0%) and 106 Euro cents (24.0%).

In a three day sale in Melbourne and two day sale in Sydney, the AWEX EMI was increased by 2¢ on Tuesday, decreased by 8¢ on Wednesday and by 6¢ on Thursday. The Western Indicator decreased by 12¢ on Wednesday and by 4¢ on Thursday.

While the market eased over the second and third days of selling, it remains strong with ongoing good competition. The price highlight of the week was 150,000¢ paid for an 11.9 micron 1PP lot from the Horsham Wool Factory on Wednesday. Merino Micron Price Guides mostly came back by around 15 to 20¢ over the sale. Skirtings finished on a firm note after coming back slightly over the first two days.

Oddments also firmed yesterday after easing earlier in the week and crossbreds were mixed in outcome. 28 and 30 Micron Price Guides fell by 7 to 9¢, while the others were up by around 3¢.

The competition was led by buyers for China.

Sales will be held in Newcastle, Melbourne and Fremantle next week, when 66,153 bales are currently rostered for sale. Current estimates for the following three weeks range between 56,000 and 68,800, a decrease of 5.5% over the same period last year. Note, sale quantities were increasing at this time last year in response to the lift in the market at that time.

Australian Wool Innovation, Australia

More Textiles News - Australia...