S.Atlantic : Falkland Wool Growers Report for Week Ending 12/10/04
Submitted by SARTMA.com (Juanita Brock) 12.12.2004 (Article Archived on 26.12.2004)

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 10^th December 2004

Auctions

The Australian Eastern Market Indicator (EMI) that opened the week at 724 A cents, gained five cents on Tuesday, moved seven cents higher on Wednesday and gained another five cents on Thursday.  The EMI thus closed the week up 17 cents at 741 A cents.  Demand for pre-Christmas shipping and a timely slide in the Australian dollar against the US dollar were largely responsible.  89% of the offering sold.

In New Zealand, the Fine Indicator was 46 cents lower on three weeks ago at 959 NZ cents, the Medium Indicator was 9 cents lower on the week at 464 NZ cents, whilst the Strong Indicator lost five cents to close at 371 NZ cents.  There was an 87% clearance of the offering of 19,150 bales.

The South African Overall Merino Indicator added a minute 0.2% to move from 2,401 to 2,407 SA cents/kg clean.  There was a 97% clearance with much again going to Europe.

The British sale saw an 82% clearance of 2.17M kg greasy.  The indicator slipped a penny to close at 81 pence/kg.

Currencies

The Australian dollar closed the week in London at A$2.5488/£, which is significantly 18 cents weaker than three weeks ago. The New Zealand dollar was ten cents weaker over the three weeks at 2.7208 NZ cents/£.

With regard to wool market and currency impact this week, Australian wool of 21 to 24 microns have made marginal sterling gains whilst other microns have eased.

FWG Agency

It was very good indeed to meet up with a large number of farmers during the last fortnight.  My apologies to all those whom I was unable to meet on this occasion.  My particular thanks to all those farmers that generously had me to stay.  Many thanks also to all those who kindly lent me vehicles, gave me snacks or meals, showed me around their wool-sheds and farms and “passed me along the track”.

My thanks for all bale specifications and confirmed marketing instructions received recently.  All additional supplies of wool in 2005 would be much welcomed by our customers.

With Thanks and Best Wishes

Robert