The Australian wool market finished 1.9% higher, on average, at sales in Newcastle, Melbourne and Fremantle this week.
The AWEX EMI rose by 17¢ (+1.9%), ending the week at 933¢/kg. This reflected increases of 21¢ (+2.2%) in the North and 13¢ (+1.5%) in the South, with their corresponding Regional Indicators finishing the week at 962¢ and 908¢ clean, respectively. The Western Indicator rose by 19¢ (+2.1%), finishing the week at 943¢.
In a three day sale in Newcastle and Melbourne, the AWEX EMI rose by 14¢ on Tuesday, by 4¢ on Wednesday and fell by 1¢ on Thursday. The Western Indicator rose by 11¢ on Wednesday and by 8¢ on Thursday in a two day sale in Fremantle.
53,181 bales were on offer, compared with 47,931 bales last week, of which 5.1% were passed in, comprised of 4.0% in Newcastle, 4.9% in Melbourne and 7.2% in Fremantle. Pass-in rates for Merino fleece and skirtings were 5.2% and 3.6%, respectively. 1,500 bales (2.7%) were withdrawn prior to sale and re-offered bales made up 7.0% of this week's offering.
The US exchange rate (source RBA) was 0.47¢ higher on Monday when compared with Thursday of last week. It was down by 1.35¢ on Tuesday and up by 2.20¢ on Wednesday after the United States Federal Reserve eased interest rates by 0.5% on Tuesday.
It rose by a further 0.72¢ on Thursday to close at 85.96¢, up 2.04¢ (+2.4%) since the last sale. The exchange rate against the Euro rose by 1.08 Euro cents (+1.8%) to close at 61.49 Euro cents on Thursday night. When looked at in other currencies, the AWEX EMI increased by 33¢ (+4.3%) in US terms and by 21¢ (+3.8%) in Euro terms when compared with the previous sale.
-Ltd..jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Thermore (Far East) Ltd.")
.jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Telangana State Industrial Infrastructure Corporation Limited (TSllC Ltd)")
.jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Taiwan Textile Federation (TTF)")
