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AWIS Wool market review

May '07
In a very strong week with a small offering and an increasing US exchange rate, the Australian wool market finished 2.4% higher, on average, at sales in Sydney, Melbourne and Fremantle this week.

The AWEX EMI increased by 22¢ (+2.3%), ending the week at a season record equalling level of 962¢/kg clean. This reflected increases of 23¢ (+2.4%) in the North and 22¢ (+2.4%) in the South, with their corresponding Regional Indicators finishing the week at 995¢ and 935¢ clean respectively. The Western Indicator rose by 23¢ (+2.4%), finishing the week at 968¢/kg clean. The Northern Indicator is 2¢ below its season peak, the Southern Indicator is 1¢ above the previous peak and the Western Indicator is 8¢ below the season peak.

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 221¢ (29.8%), 229¢ (29.9%), 215¢ (29.9%) and 251¢ (35.0%), respectively. 19 to 23 average AWEX Micron Price Guides (MPG) are up by 250¢ to 277¢ clean over the period and by 199¢ for 24 micron wools. At the fine end, the changes are 134¢ for 17 micron wool, 174¢ for 17.5, 184¢ for 18 and 215¢ for 18.5 micron wool.

43,198 bales were on offer, compared with 53,643 last week, of which 4.0% were passed in, comprised of 2.9% in Sydney, 3.7% in Melbourne and 5.2% in Fremantle. Pass in rates for Merino fleece and skirtings were 3.2% and 3.1% respectively. 1,141 bales (2.6%) were withdrawn prior to sale and re-offered wools made up 11.9% of this week's offering.

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