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Australian wool market upbeat this week
25 Jan '08
4 min read
The exchange rate against the Euro fell by 0.21 Euro cents ( 0.3%) to close at 59.83 Euro cents on Thursday night. When looked at in other currencies, the AWEX EMI increased by 2¢ (+0.2%) in US terms and by 3¢ (+0.5%) in Euro terms when compared with the previous sale.
In another good week, the market opened well with good competition, increases across all micron ranges and types and the US exchange rate below last week. The greatest gains were in the 18.0 to 22.0 micron range where average increases in the AWEX Micron Price Guides (MPGs) were in the order of 20¢ clean.
Thursday saw an increase in the exchange rate, slightly less competition and part of the previous day's gains being reversed. However, the change in the US exchange rate meant that there was an increase of 4¢ in the EMI on the day in US currency. Good wools with high strength values and low mid-breaks continued to be in strong demand.
Over the two days, average MPGs were up by 5¢ for 17.0 microns, by 7¢ for 17.5, by 17¢ for 18.0, by 25¢ for 18.5, by 12¢ for 19.0 microns and by 14¢ for 19.5 microns. 20.0 micron wool was up by 12¢, 21.0 by 15¢, 22.0 by 19¢, 23.0 by 9¢ and 24.0 by 11¢.
Skirtings continued to be in keen demand as were oddments. Medium crossbreds were up slightly and fine and coarse crossbreds were down slightly for the week. There was a good spread of competition with buyers for China dominant.
Sales will in Sydney and Melbourne next week, when 44,420 bales are currently rostered for sale. Present estimates for the following three sales vary from 47,600 to 59,000 bales, a decrease of 25.4% over the four sale period when compared with last year when there was one extra sale in Fremantle.
In South African sales, the Cape Wools Indicator was up by 5.4% since last week against a 3.5% depreciation of the Rand against the US Dollar and a 1.9% depreciation against the Euro.
In another good week, the market opened well with good competition, increases across all micron ranges and types and the US exchange rate below last week. The greatest gains were in the 18.0 to 22.0 micron range where average increases in the AWEX Micron Price Guides (MPGs) were in the order of 20¢ clean.
Thursday saw an increase in the exchange rate, slightly less competition and part of the previous day's gains being reversed. However, the change in the US exchange rate meant that there was an increase of 4¢ in the EMI on the day in US currency. Good wools with high strength values and low mid-breaks continued to be in strong demand.
Over the two days, average MPGs were up by 5¢ for 17.0 microns, by 7¢ for 17.5, by 17¢ for 18.0, by 25¢ for 18.5, by 12¢ for 19.0 microns and by 14¢ for 19.5 microns. 20.0 micron wool was up by 12¢, 21.0 by 15¢, 22.0 by 19¢, 23.0 by 9¢ and 24.0 by 11¢.
Skirtings continued to be in keen demand as were oddments. Medium crossbreds were up slightly and fine and coarse crossbreds were down slightly for the week. There was a good spread of competition with buyers for China dominant.
Sales will in Sydney and Melbourne next week, when 44,420 bales are currently rostered for sale. Present estimates for the following three sales vary from 47,600 to 59,000 bales, a decrease of 25.4% over the four sale period when compared with last year when there was one extra sale in Fremantle.
In South African sales, the Cape Wools Indicator was up by 5.4% since last week against a 3.5% depreciation of the Rand against the US Dollar and a 1.9% depreciation against the Euro.
Australian Wool Innovation Limited
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