Interviews
AWIS wool market review
23 Feb '07
4 min read
The changes in the EMI in US and Euro currencies since mid-October are now 164¢ US (29.6%) and 105 Euro cents (23.8%).
In a three day sale in Melbourne and Newcastle, the AWEX EMI fell by 8¢ on Tuesday, remained the same on Wednesday and fell by a further 2¢ on Thursday. The Western Indicator dropped by 10¢ on Wednesday and rose by 2¢ on Thursday.
Although the market eased on Tuesday, it settled on Wednesday and Thursday and held up well against the continuing large volumes and the increasing US exchange rate. In Newcastle, the best of the offering was on Wednesday when all the fine wool Micron Price Guides went up.
Trade reports indicate that there was strong support all week for the traditional Italian types. Medium micron wools across Australia eased in line with the fall in the EMI. These came off a little more in the South on Thursday when there was a large offering of South Australian wool. Skirtings were again in strong demand and finished the week well. Oddments were firm, finishing the week on an upward note. Crossbreds were generally unchanged, apart from 28 microns, which slipped back by 2 to 3%.
The competition was led by buyers for China, with buyers for Italy strong in Newcastle, as usual. Sales will be held in Sydney, Melbourne and Fremantle next week, when 74,474 bales are currently rostered for sale. Current estimates for the following three weeks are expected to fall back, ranging between 54,068 and 57,200, a decrease of 7.3% 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.
In South Africa, the Cape Wools Indicator fell by 0.5% against a 0.9% of the US$ exchange rate and a 0.3% appreciation of the Euro exchange rate.
In a three day sale in Melbourne and Newcastle, the AWEX EMI fell by 8¢ on Tuesday, remained the same on Wednesday and fell by a further 2¢ on Thursday. The Western Indicator dropped by 10¢ on Wednesday and rose by 2¢ on Thursday.
Although the market eased on Tuesday, it settled on Wednesday and Thursday and held up well against the continuing large volumes and the increasing US exchange rate. In Newcastle, the best of the offering was on Wednesday when all the fine wool Micron Price Guides went up.
Trade reports indicate that there was strong support all week for the traditional Italian types. Medium micron wools across Australia eased in line with the fall in the EMI. These came off a little more in the South on Thursday when there was a large offering of South Australian wool. Skirtings were again in strong demand and finished the week well. Oddments were firm, finishing the week on an upward note. Crossbreds were generally unchanged, apart from 28 microns, which slipped back by 2 to 3%.
The competition was led by buyers for China, with buyers for Italy strong in Newcastle, as usual. Sales will be held in Sydney, Melbourne and Fremantle next week, when 74,474 bales are currently rostered for sale. Current estimates for the following three weeks are expected to fall back, ranging between 54,068 and 57,200, a decrease of 7.3% 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.
In South Africa, the Cape Wools Indicator fell by 0.5% against a 0.9% of the US$ exchange rate and a 0.3% appreciation of the Euro exchange rate.
Australian Wool Innovation, Australia
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