The US exchange rate (RBA) was 0.28¢ lower on Monday when compared with Thursday of last week. It decreased by 0.13¢ on Tuesday, rose by 0.01¢ on Wednesday and by 0.10¢ on Thursday, to close at 82.28¢, down 0.30¢ (-0.4%) since the last sale.
The exchange rate against the Euro increased by 0.09 Euro cents (+0.1%) to close at 61.14 Euro cents on Thursday night. When looked at in other currencies, the AWEX EMI increased by 20¢ (+2.5%) in US terms and by 18¢ (+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 275¢ US (+49.6%) and 174 Euro cents (+39.4%). EMI in US terms (829¢) is now 134¢ above the 2002/03 peak of 695.
In a two day sale, the AWEX EMI rose by 16¢ on Wednesday and by 12¢ on Thursday. The Western Indicator rose by 13¢ on Wednesday and by 5¢ on Thursday.
Merino fleece wools were in very strong demand, with the biggest gains being made among the fine wools where the average MPGs rose by 35¢ (16.5 microns), 65 - 70¢ (17.0 to 18.0 microns), 51¢ (18.5 microns) and easing back progressively to 25¢ for the medium wools.
A small selection of Ultrafine lots sold up to 37,000¢ per kg and AWEX reports that a number of lots of organic wool sold at premiums of up to 150¢. Skirtings, particularly those with lower VM sold well, while oddments also made gains. The one soft spot in the market were crossbreds which eased by 1 - 5¢ clean.
Sales will be held in Sydney, Melbourne and Fremantle next week, when 49,541 bales are currently rostered for sale. Current estimates for the following three sales vary from 29,500 (North and South only) to 46,300, a fall of 19.1% over the four sale period when compared with last year. Two of those weeks include the North and South only. Buyers for China continue to dominate the market. There were no sales in South Africa this week.
Australian Wool Innovation Limited
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.jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "UBM China (Shanghai)")
-Ltd..jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Thermore (Far East) Ltd.")
