AWEX Indicator unchanged in North region

17 Mar '08

4 min read

The Australian wool market finished 0.7% lower, on average, at sales in Sydney, Melbourne and Fremantle this week.

The AWEX EMI fell by 6¢ (-0.6%), ending the week at 966¢/kg. This reflected an unchanged Indicator in the North and a decrease of 10¢ (-1.1%) in the South, with their corresponding Regional Indicators finishing the week at 1011¢ and 929¢ clean, respectively. The Western Indicator fell by 10¢ (-1.0%), finishing the week at 956¢.

In a two day sale in Sydney and Melbourne, the AWEX EMI rose by 2¢ on Wednesday and fell by 8¢ on Thursday. The Western Indicator fell by 3¢ on Wednesday and by 7¢ on Thursday in a two day sale in Fremantle.

53,698 bales were on offer, compared with 50,785 bales last week, of which 13.9% were passed in, comprised of 5.5% in Sydney, 13.6% in Melbourne and 21.9% in Fremantle. Pass-in rates for Merino fleece and skirtings were 13.1% and 15.5%, respectively. 2,141 bales (3.8%) were withdrawn prior to sale and re-offered bales made up 13.7% of this week's offering.

The US exchange rate (source RBA) was 0.72¢ lower on Monday when compared with Thursday of last week. It was down by a further 0.83¢ on Tuesday, up by 1.18¢ on Wednesday and by 0.42¢ on Thursday to close at 93.57¢, up 0.05¢ (+0.1%) since the last sale.

The exchange rate against the Euro fell by 1.13 Euro cents (-1.8%) to close at 60.09 Euro cents on Thursday night. When looked at in other currencies, the AWEX EMI decreased by 5¢ (-0.6%) in US terms and by 15¢ (-2.5%) in Euro terms when compared with the previous sale.

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