Australian wool market finished 1.1 percent higher, on average, at sales in Sydney, Melbourne and Fremantle this week. The AWEX EMI rose by 8 Ac (Australian Cents) (+0.8 percent), ending the week on a season high of 1036Ac/kg.
This reflected increases of 10Ac (+0.9 percent) in the North and 6Ac (+0.6 percent) in the South, with their corresponding Regional Indicators finishing the week at 1079Ac and 999Ac/kg clean, respectively.
The Western Indicator rose by 18› (+1.8 percent), finishing the week at 1043 Ac. In a three-day sale in Melbourne and a two day sale in Sydney, the AWEX EMI was unchanged on Tuesday, rose by 10Ac on Wednesday and fell by 2Ac on Thursday. The Western Indicator rose by 11Ac on Wednesday and by 7Ac on Thursday in a two day sale in Fremantle.
69,947 bales were on offer, compared with 44,562 bales last week, of which 7.2 percent were passed in, comprised of 4.0 percent in Sydney, 5.9 percent in Melbourne and 14.3 percent in Fremantle.
Pass-in rates for Merino fleece and skirtings were 7.2 percent and 6.2 percent, respectively. 1,889 bales (2.6 percent) were withdrawn prior to sale and re-offered bales made up 9.1 percent of this week's offering.
It was another good week, with a large offering, a fluctuating US exchange rate and another big showing of crossbred wool. The market opened well, but with a zero change in the EMI and Southern Indicators due to the 1.8 percent increase in the US exchange rate.
The better wools with good strength values continued to be in good demand throughout the week and finished up on last week. However, the quantities of poorer wools dragged the average Market Indicators down, masking the demand for the better wools.
There were increases across all wool types and micron ranges, with the largest increases among the fine end on Wednesday. Average AWEX Micron Price Guides (MPGs) were up by 24Ac for 17.5 microns, by 6Ac for 18.0, by 12Ac for 18.5, by 20 to 24Ac for 19.0 microns to 20.0 microns, by 8Ac for 21 microns, by 7Ac for 22 microns, by 19Ac for 23 microns and by 13Ac for 24 microns.
Skirtings continued to be in keen demand, finishing on a firm or upwards note, while oddments continued the upwards movement of last week. Crossbreds did well in a week when they were present in bigger volumes, finishing the week slightly up or marginally down. Trade reports indicate there was some very good crossbred wool on offer.
There was a good spread of competition with buyers for China, Europe and India dominant. Sales will in Sydney, Melbourne and Fremantle next week, when 50,559 bales are currently rostered for sale. Present estimates for the following three sales vary from 41,200 (Sydney and Melbourne selling only in Week 31) to 51,600 bales, a decrease of 24.6 percent over the four sale period when compared with last year.
In South African sales, the Cape Wools Indicator was up by 6.4 percent since last sale against a 1.8 percent depreciation of the Rand against the US dollar and a 2.7 percent depreciation against the Euro.