The downward pressure seen in Melbourne in the last week before the break continued into the opening sales when the Australian wool market finished this week with prices 3.0 percent lower, on average, at the sales in Sydney and Fremantle.
The AWEX EMI decreased by 10¢ (-1.4 percent), ending the week at 717¢/kg clean. This reflected a decrease of 22¢ (-2.9 percent) in the North to 724¢ and an adjustment for the South which is still in recess. The Southern Indicator fell by 16¢ in the last sale before the break. The Western Indicator fell by 22¢ (-3.1 percent), finishing the week at 696¢ and 696¢/kg clean respectively.
48,706 bales were on offer (compared with 21,006 before the recess when Melbourne was the only market selling), of which 18.9 percent were passed in, comprised of 13.4 percent in Sydney and 25.3 percent in Fremantle. Pass-in rates for Merino fleece and skirtings were 22.3 percent and 11.4 percent respectively. 2,222 bales (4.4 percent) were withdrawn prior to sale and re-offered wools made up 11.2 percent of this week's offering.
The US exchange rate this week increased 0.87¢ on Tuesday when compared with the previous two Thursdays ago. This was followed by a decrease of 0.03¢ on Wednesday and an increase of 0.84¢ on Thursday to close at 77.18¢, up 1.68¢ (2.2 percent) since the close of selling before the break.
The exchange rate against the Euro increased by 0.72 Euro cents (1.2 percent) to close at 62.57 Euro cents. When looked at in other currencies, the AWEX EMI increased by 4¢ in US$ terms and fell by 1¢ in Euroterms when compared with the sale in Week 2. The Northern Indicator rose by 6¢ in US terms and decreased by 10¢ in Euro terms since the last sale in that centre in Week 1.
-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)")
