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Wool market review - 22nd June, 2007

Jun '07
The Australian wool market finished 2.9% lower, on average, at sales in Sydney and Melbourne this week.

The AWEX EMI fell by 29c (-2.9%), ending the week at 956c/kg clean. This reflected decreases of 29c (-2.9%)and 28c (-2.9%) in the South, with their corresponding Regional Indicators finishing the week at 982c and 935c clean respectively. With no sale in Fremantle, the Western Indicator remained unchanged at 980c.

Prices remain at high levels despite the sharp fall during the week. When compared with the start of the upward movement of the market in October, the EMI and the Northern, and Southern and Western Indicators are now up by 215c (29.0%), 216c (28.2%) and 215c (29.9%), respectively.

19 to 23 micron average AWEX micron Price Guides (MPGs) are up by 227c to 247c clean over the period and by 194c for 24 micron wools. At the fine end, the changes are 159c for 17 micron wool, 211c for 17.5, 190c for 18 and 219c for 18.5 micron wool.

26,289 bales were on offer, compared with 48,293 last week, of which 14.7% were passed in, comprised of 12.7% in Sydney and 17.0% in Melbourne. Pass-in rates for Merino fleece and skirtings were 19.4% and 9.4% respectively. 872 bales (3.2%) were withdrawn prior to sale and re-offered wools made up 10.3% of this week's offering.

The US exchange rate (RBA) was 0.5c lower on Monday when compared with Thursday of last week. It decreased by 0.15c on Tuesday and increased by 0.28c on Wendesday before falling by 0.10c on Thursday, to close at 84.58c, up 0.72c (-0.9%) since the last sale.

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