AWEX five week forecast for wool

30 Apr '07

3 min read

The Australian wool market finished 0.3% higher, on average, at sales in Sydney, Melbourne and Fremantle this week.

The AWEX EMI increased by 3¢ (+0.3%), ending the week at 937¢/kg clean. This reflected increases of 2¢ (+0.2%) in the North and 3¢ (+0.3%) in the South, with their corresponding Regional Indicators finishing the week at 970¢ and 909¢ clean respectively. The Western Indicator remained rose by 4¢ (+0.4%), finishing the week at 942¢/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 now up by 196¢ (26.5%), 204¢ (26.6%), 189¢ (26.3%) and 225¢ (+31.4%), respectively. 19 to 23 average AWEX Micron Price Guides are up by 218¢ to 246¢ over the period and by 179¢ for 24 micron wools. At the fine end, the changes are 115¢ for 17 micron wool, 150¢ for 17.5, 163¢ for 18 and 183¢ for 18.5 micron wool.

53,045 bales were on offer, compared with 65,659 last week of which 9.0% were passed in, comprised of 7.4% in Sydney, 6.2% in Melbourne and 14.3% in Fremantle. Pass in rates for Merino fleece and skirtings were 10.8% and 6.1% respectively. 2,046 bales (3.7%) were withdrawn prior to sale and re-offered wools made up 13.5% of this week's offering.

The US exchange rate (RBA) was 0.22¢ higher on Monday when compared with Thursday last week. It fell by 0.94¢ on Tuesday, when the less than expected inflation rate lowered the chances on an increase in interest rate. There was no quote on Wednesday (Anzac Day).

More Australian Wool Innovation Limited News... More Textiles News - Australia...