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AWIS wool market review - March 2, 2007

02
Mar '07
The Australian wool market finished 0.2% higher, on average, at sales in Sydney, Melbourne and Fremantle this week.

The AWEX EMI increased by 1¢ (+0.1%), ending the week at 909¢/kg clean. This reflected increases of 2¢ (+0.2%) in the North and 2¢ (+0.2%) in the South, with their corresponding Regional Indicators finishing the week at 938¢ and 886¢ clean respectively. The Western Indicator increased by 2¢ (+0.2%), finishing the week at 924¢/kg clean.

When compared with the start of the upward movement of the market in October, the EMI and the Northern, Southern, and Western Indicators are up by 168¢ (22.7%), 172¢ (22.5%), 166¢ (23.1%) and 207¢ (28.9%), respectively. 19 to 23 average AWEX Micron Price Guides are up by 189 to 230¢ over the period and by 171¢ for 24 micron wools. At the fine end, the changes are 61¢ for 17 micron wool, 97¢ for 17.5, 113¢ for 18 and 144¢ for 18.5 micron wool.

69,214 bales were on offer (compared with 63,627 last week), of which 13.5% were passed in, comprised of 12.2% in Sydney, 12.8% in Melbourne and 16.7% in Fremantle. Pass in rates for Merino fleece and skirtings were 12.5% and 12.2% respectively. 4046 bales (5.5% compared with a season average of 3.8%) were withdrawn prior to sale and re-offered wools made up 11.3% of this week's offering

The New Zealand Merino Company offered 5,032 bales (of which 19.7% were reoffered) for sale on Tuesday. 13.3% were withdrawn before sale and 17.9% were passed in.

The US exchange rate was 0.09¢ higher on Monday when compared with the Thursday of last week. It increased by 0.21¢ on Tuesday, decreased by 0.60¢ on Wednesday and by 0.20¢ on Thursday to close at 78.60¢, down 0.50¢ (-0.6%) since the last sale.


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