The exchange rate against the Euro increased by 0.23 Euro cents (+0.4%) to close at 61.37 Euro cents on Thursday night. When looked at in other currencies, the AWEX EMI increased by 9¢ (+1.1%) in US terms and by 8¢ (+1.3%) in Euro terms when compared with the previous sale.
The changes in the EMI in US and Euro currencies since mid October are now 284¢ US (+51.3%) and 182 Euro cents (+41.2%). EMI in US terms (838¢) is now 143¢ above the 2002/03 peak of 695.
In a two day sale, the AWEX EMI rose by 17¢ on Wednesday and dropped by 9¢ (equivalent to 1 US¢) on Thursday. The Western Indicator rose by 12¢ on Wednesday and fell by 5¢ on Thursday.
The market began on a very keen note with Merino fleece wools in strong demand, particularly at the fine end where the MPGs for 16.5, 17.0, 17.5, and 18.0 micron wools lifted by 73¢, 72¢, 55¢ and 28¢ in the South and by 51¢, 50¢, 58¢ and 48¢, in the North. All eased yesterday, but remain well in front of last week. Medium and broad wools did less well, with 21 to 24 micron wools finishing with their average MPGs down by 6 to 12¢.
Superfine wools have had a good run recently, catching up much of the difference in price gains enjoyed by the medium wools. Skirtings continue to be in strong demand while oddments were varied, but were generally close to last week or showed only small differences. Crossbreds were mixed with gains at the fine end and little change at the coarse end. Buyers for China continue to dominate the market.
Sales will be held in Sydney and Melbourne next week, when 32,567 bales are currently rostered for sale. Fremantle will be in recess. Current estimates for the following three sales vary from 27,700 (North and South only) to 52,300, a fall of 11.7% over the four sale period when compared with last year.
The Cape Wools Market Indicator in South Africa was up by 6.3% compared with the last sale two weeks ago, against a 3.7% weaker US exchange rate and a 2.5% weaker Euro exchange rate.
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.")
