Australian Wool Innovation Limited presented the wool market sales for this week.
The Australian Wool Market finished this week with prices 1.0 percent lower, on average, at the sales in Sydney, Melbourne and Fremantle.
The AWEX EMI decreased by 6?(-0.9 percent), ending the week at 666?kg clean. This reflected decreases of 10?(-1.5 percent) in the North, coming off last week's Newcastle sale, and 3?(-0.5 percent) in the South, with their corresponding Regional Indicators finishing the week at 671?and 661?clean respectively. The sale in Fremantle saw the Western Indicator decrease by 6?(-0.9 percent), finishing the week at 643?kg clean.
55,230 bales were on offer (compared with 60,212 last week), of which 10.9 percent were passed in, comprised of 7.4 percent in Sydney, 9.2 percent in Melbourne and 19.7 percent in Fremantle. Pass-in rates for Merino fleece and skirtings were 12.0 percent and 9.8 percent respectively. Apart from the West, the clearance rate remains good despite the relatively low prices. 1,771 bales (3.1 percent) were withdrawn prior to sale and re-offered wools made up 7.0 percent of this week's offering.
The New Zealand Merino Company offered 3,685 bales (including 2.5 percent of re-offered wool) for sale on Wednesday, of which 6.5 percent was passed in.
The US exchange rate decreased by 0.10?on Monday when compared with the previous Thursday. It then appreciated for the rest of the week with increases of 0.22?on Tuesday, 0.59?on Wednesday and 0.05?on Thursday to close at 75.68? up 0.76?(1.0 percent) for the week. The exchange rate against the Euro decreased by 0.03 Euro cents (0.0 percent) to close at 62.55 Euro cents. When looked at in other currencies, the AWEX EMI rose by 1?in US$ terms and fell by 4?in Euro terms when compared with last week's sale. The price in US currency has now been fairly stable for the past three weeks, with the closing rates fluctuating by 1 US cent.
The AWEX EMI fell by 2?on each of Tuesday, Wednesday and Thursday. In the West the local Indicator decreased by 6?on Wednesday and remained the unchanged yesterday.
Prices in the North for fleece wools at the fine end of the market fleece eased by up to 20?over Tuesday and Wednesday after last week's Newcastle sale before steadying yesterday. Other Merino fleece types eased, but were much less affected.
Skirting types were generally unchanged or eased slightly during the week. Crossbred prices also slipped during the week, with falls 5 to 10 ?in the North, but less in the South. Oddment types finished the week either unchanged or slightly weaker.
AWI initiates, commissions and delivers research and development (R&D) to Australian woolgrowers. We work through alliances and contracts and, where possible, we commercialise R&D outcomes. Our primary aim is the adoption of technology - on farm and along the global wool pipeline.
