The Australian Wool Market finished this week on a positive note with prices 3.8 percent higher, on average, at sales in Sydney, Melbourne and Fremantle, making a total upward movement or 5.9 percent over the last two weeks.
The AWEX EMI increased by 24?(+3.7 percent), ending the week at 673?kg clean. This reflected increases of 29?(+4.4 percent) in the North, and 22?(+3.4 percent) in the South, with their corresponding Regional Indicators finishing the week at 687?and 662?clean respectively.
The sale in Fremantle saw the Western Indicator increase by 22?(+3.5 percent), finishing the week at 649?kg clean.
60,129 bales were on offer (compared with 61,795 last week), of which 8.9 percent were passed in, comprised of 4.8 percent in Sydney, 8.8 percent in Melbourne and 13.7 percent in Fremantle. Pass-in rates for Merino fleece and skirtings were 9.3 percent and 7.8 percent respectively.
2,348 bales (3.8 percent) were withdrawn prior to sale and re-offered wools made up 12.8 percent of this week? offering.
The US exchange rate rose by 0.06?on Monday when compared with the previous Thursday, followed by a decreases of 0.20?on Tuesday and by 0.61?and 0.13? respectively on Wednesday and Thursday to close at 74.65? down 0.88?(-1.2%) for the week.
The exchange rate against the Euro fell by 0.52 Euro cents (-0.8%) to close at 61.71 Euro cents. When looked at in other currencies, the AWEX EMI increased by 12?in US$terms for the second successive week and by 11?in Euro terms when compared with the last sale. The change in Euro cents over the last two weeks is 17?
