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Crossbred wool prices eased by 15 to 20¢ clean over week
23 Mar '07
4 min read
The US exchange rate was 0.94¢ higher on Monday when compared with the Thursday of last week. It increased by 0.28¢ on Tuesday, by 0.38¢ on Wednesday and by 0.39¢ on Thursday to close at 80.61¢, up 1.99¢ (+2.5%) since the last sale. The exchange rate against the Euro increased by 0.77 Euro cents (+1.3%) to close at 60.21 Euro cents on Thursday night. When looked at in other currencies, the AWEX EMI increased by 4¢ (+0.3%) in US terms and decreased by 4¢ (-0.7%) in Euro terms when compared with the previous sale.
The changes in the EMI in US and Euro currencies since mid October are now 206¢ US (37.2%) and 126 Euro cents (28.5%). The closing price of 760 US¢ is well above the 2002/03 peak of 695 US¢, when the exchange rate was 58.95.
In a three day sale in Melbourne and two day sale in Sydney, the AWEX EMI decreased by 13¢ (against a 24¢ fall in the Southern Indicator) on Tuesday, decreased by 9¢ on Wednesday and increased by 3¢ on Thursday. The Western Indicator decreased by 15¢ on Wednesday and by 3¢ on Thursday.
The market moved sharply on the first day in Melbourne, before finding a new level around which it sat for the remainder of the week. Falls were seen across all micron ranges, but more so in fleece types than skirtings. Falls were greater in the 19.5 to 23 micron range in Sydney on Wednesday.
All average Merino Micron Price Guides were down by 30 to 40¢ for the week. Skirtings were less affected and remained in strong demand, as evidenced by their pass-in rate of 5.7% cf. 19.0% for fleece wool. Oddments were also keenly sought, with the average AWEX Merino Cardings Price Guide up 18¢ for the week. Crossbred prices eased by 15 to 20¢ clean over the week.
Sales will be held in Sydney, Melbourne and Fremantle next week, when 67,463 bales are currently rostered for sale. Current estimates for the following two sales are expected to fall back, ranging between 40,060 (Sydney and Melbourne only) and 64,000, a decrease of 4.3% over the same period last year when sale volumes were increasing. There was no sale in South Africa this week.
The changes in the EMI in US and Euro currencies since mid October are now 206¢ US (37.2%) and 126 Euro cents (28.5%). The closing price of 760 US¢ is well above the 2002/03 peak of 695 US¢, when the exchange rate was 58.95.
In a three day sale in Melbourne and two day sale in Sydney, the AWEX EMI decreased by 13¢ (against a 24¢ fall in the Southern Indicator) on Tuesday, decreased by 9¢ on Wednesday and increased by 3¢ on Thursday. The Western Indicator decreased by 15¢ on Wednesday and by 3¢ on Thursday.
The market moved sharply on the first day in Melbourne, before finding a new level around which it sat for the remainder of the week. Falls were seen across all micron ranges, but more so in fleece types than skirtings. Falls were greater in the 19.5 to 23 micron range in Sydney on Wednesday.
All average Merino Micron Price Guides were down by 30 to 40¢ for the week. Skirtings were less affected and remained in strong demand, as evidenced by their pass-in rate of 5.7% cf. 19.0% for fleece wool. Oddments were also keenly sought, with the average AWEX Merino Cardings Price Guide up 18¢ for the week. Crossbred prices eased by 15 to 20¢ clean over the week.
Sales will be held in Sydney, Melbourne and Fremantle next week, when 67,463 bales are currently rostered for sale. Current estimates for the following two sales are expected to fall back, ranging between 40,060 (Sydney and Melbourne only) and 64,000, a decrease of 4.3% over the same period last year when sale volumes were increasing. There was no sale in South Africa this week.
Australian Wool Innovation Limited
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