S.Atlantic : Falkland Wool Growers Report for 14 February
Submitted by SARTMA.com (Juanita Brock) 16.02.2003 (Article Archived on 02.03.2003)
Find out how the wool market did last week
WOOL REPORT: for the week ending Friday 14th February 2003
This week Australia was fractionally softer. The Eastern Market Indicator (EMI) lost four cents on Tuesday, recovered the same on Wednesday and went six cents lower on Thursday. The EMI thus closed the week down six at 1,156 A cents/kg. The Southern Region was selling in Lanceston, Tasmania rather than Melbourne this week.
In South Africa the Cape Wools Overall Merino Indicator added 0.8 percent to move from 4,533 to 4,569 SA cents/kg. This improvement was largely attributed to gains in wool finer than 19 microns, in an otherwise unexciting market.
In New Zealand, Thursday’s auction quoted the Fine Indicator at 1,421 cents, the Medium Indicator up 35 cents to close at 741 NZ cents, the Strong Indicator put on five cents to 453 NZ cents whilst the Lamb Indicator added a cent to finish at 438 NZ cents.
Currencies and Interest Rates
At the time of writing the Australian dollar was trading six cents stronger on the week at about A$2.72/£ whilst the New Zealand dollar was another about eight cents stronger at NZ$2.92/£. These currency movements more than compensated for the lower Australian prices for relevant wool 20 to 24 microns.
Top Class Quality Control
As shearing draws to a close for the 2002/2003 season, those working and supervising in wool sheds, must please ensure that top class quality control practises are maintained until the very end of shearing, wool preparation, classing and pressing.
Good demand continues. All additional supplies of wool would be welcomed by our customers.
The delayed Astra Sea wool is now in Bradford and core sampled.
Many thanks for all the bale specifications received of late. Please send all details of bales shipped.