Interviews
AWIS wool market review - March 9, 2007
09 Mar '07
4 min read
The exchange rate against the Euro decreased by 0.45 Euro cents (-0.8%) to close at 58.99 Euro cents on Thursday night. When looked at in other currencies, the AWEX EMI increased by 19¢ (+2.7%) in US terms and by 16¢ (+3.0%) in Euro terms when compared with the previous sale. The changes in the EMI in US and Euro currencies since mid October are now 179¢ US (32.3%) and 114 Euro cents (25.8%).
In a two day sale in Sydney and Melbourne, the AWEX EMI increased by 19¢ on Wednesday and by 15¢ on Thursday. The Western Indicator increased by 19¢ on Wednesday and by 12¢ on Thursday.
The keen competition was not unexpected, with the downturn in offerings and the good close to last week. Increases were seen across all types and all micron ranges with the change in the 17 to 18.5 average Micron Price Guides (43 to 52¢) only just behind those for 19 to 21 micron wool.
The better Merino fleece types with good Staple Strength values were very keenly sought. Similarly, there was strong competition for Merino skirtings, particularly those with low Vegetable Matter. The picture was similar for oddments; and increases of 10 to 15¢ were seen in the average crossbred Micron Price Guides.
Sales will be held in Sydney, Melbourne and Fremantle next week in a two day sale for all centres, when 51,427 bales are currently rostered for sale. Current estimates for the following three weeks are expected to fall back, ranging between 38,300 (Sydney and Melbourne only) and 56,500, a decrease of 22.3% over the same period last year when sale volumes were increasing. The AWEX Five Week Forecast shows the current estimates for the next two to be less than the previous estimate and to be up for the third week.
In South Africa, the Cape Wools Indicator rose by 3.6% against a 2.0% depreciation of the US$ exchange rate and a 1.4% depreciation of the Euro exchange rate.
In a two day sale in Sydney and Melbourne, the AWEX EMI increased by 19¢ on Wednesday and by 15¢ on Thursday. The Western Indicator increased by 19¢ on Wednesday and by 12¢ on Thursday.
The keen competition was not unexpected, with the downturn in offerings and the good close to last week. Increases were seen across all types and all micron ranges with the change in the 17 to 18.5 average Micron Price Guides (43 to 52¢) only just behind those for 19 to 21 micron wool.
The better Merino fleece types with good Staple Strength values were very keenly sought. Similarly, there was strong competition for Merino skirtings, particularly those with low Vegetable Matter. The picture was similar for oddments; and increases of 10 to 15¢ were seen in the average crossbred Micron Price Guides.
Sales will be held in Sydney, Melbourne and Fremantle next week in a two day sale for all centres, when 51,427 bales are currently rostered for sale. Current estimates for the following three weeks are expected to fall back, ranging between 38,300 (Sydney and Melbourne only) and 56,500, a decrease of 22.3% over the same period last year when sale volumes were increasing. The AWEX Five Week Forecast shows the current estimates for the next two to be less than the previous estimate and to be up for the third week.
In South Africa, the Cape Wools Indicator rose by 3.6% against a 2.0% depreciation of the US$ exchange rate and a 1.4% depreciation of the Euro exchange rate.
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