Falklands : Falkland Wool Growers Report for Week Ending 29 October
Submitted by Falkland Islands News Network (Juanita Brock) 01.11.2004 (Article Archived on 15.11.2004)
Find out what the wool market did last week.
Falkland Wool Growers Ltd
Craiglearan, Moniaive
Thornhill, Dumfriesshire DG3 4JD
Tel: 01848 200 497 Fax: 01848 200 489
Email: roberthall@falklandwoolgrowers.co.uk
Registered in Scotland No: 176228
VAT Reg No: 699 5128 75
WOOL REPORT: for the week ending Friday 29th October 2004
Auctions
The Australian Eastern Market Indicator (EMI) has drifted again during the last fortnight. The EMI ended up four cents last week at 745 A cents. On Tuesday of this week the EMI dropped six cents, on Wednesday it recovered two cents and added four cents on Thursday. The EMI thus closed this week unchanged at 745 A cents. The American dollar’s weakness played a considerable role in dampening the market. “The phenomenon continues of subdued auction values failing to reflect generally good economic signals and the increasing return to favour of traditional worsted suits and woollen jackets and coats.” WRWMR
In New Zealand the Fine Indicator was up a cent to 1,007 NZ cents on the fortnight. The Medium Indicator was quoted up two cents on the week, nearly recovering last week’s three cent slip, at 498 NZ cents. The Strong Indicator was down a cent to 389 NZ cents after last week’s slide of eight cents. The Lamb Indicator was not quoted.
The South African Overall Merino Indicator lost 1.2% last week and gained 1.5% this week, to close at 2,644 SA cents/kg clean.
In Britain the “market opened well with most types in demand, this resulted in a clearance of 82%” and prices generally fully firm.
Currencies
The Australian dollar was trading stronger at A$2.44/£. The New Zealand dollar was a cent weaker on the fortnight at 2.66 NZ cents/£.
FWG Agency
Significant enquiries for new season wool were received this week. All additional supplies of wool in 2005 would be much welcomed by our customers.
The outline plan for my forthcoming visit to Camp, is to be on West Falkland during much of the last week of November and on East Falkland during the first week of December. I will endeavour to visit as many farms as possible – if you would particularly like a visit, please advise soonest.
With Best Wishes
Robert
|
