AWEX EMI Slide Continues
The Australian wool market continued its downward movement when it finished 1.7% lower, on average, at sales in Sydney, Melbourne and Fremantle this week. The AWEX EMI fell by 16¢ (-1.7%), ending the week at 904¢/kg. This reflected decreases of 15¢ (-1.6%) in the North and 15¢ (-1.7%) in the South, with their…
Egytex News Desk
Egytex
The exchange rate against the Euro rose by 0.55 Euro cents (+0.9%) to close at 60.00 Euro cents on Thursday night. When looked at in other currencies, the AWEX EMI decreased by 26¢ (-3.0%) in US terms and by 5¢ (-0.9%) in Euro terms when compared with the previous sale. The market continued its downward movement this week, with growers again reacting strongly by withdrawing 5% of the offering and passing in 21.7% (including 25.0% on Thursday). Demand was again softer, with the lesser quantity of better wools holding on and the lower quality wools again the most affected. Trade members report some Yields were down to 55% and less. There is little demand for such wools in markets like the current one.
Prices were down across all wool types and micron ranges, but more so at the fine and medium end of the market. Average AWEX Micron Price Guides (MPGs) were down by 24¢ for 17.5 microns, by 16¢ for 18.0 microns, by 19¢ for 18.5 microns, by 10¢ for 19.0 microns and by 27¢ for 19.5 microns. The 20.0 micron wool average MPG was down by 24¢ clean, 21.0 microns by 24¢, 22.0 microns by 11¢, 23.0 microns by 5¢, and 24.0 microns by 12¢.
AWTA data for April shows that 6.8% fewer bales 6.3% fewer kilograms of wool were sampled in the July to April period than in the previous year.
Australian Wool Innovation Limited
From the Egytex news archive, first published on 6 May 2008. Figures and names are as reported at the time.
