Falklands : Falkland Wool Growers Report for Week ending 29 April 2005
Submitted by Falkland Islands News Network (Juanita Brock) 03.05.2005 (Article Archived on 17.05.2005)
Find out how 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 April 2005
Auctions
The Australian Eastern Market Indicator (EMI) dropped four cents from 725 to 721 cents on Wednesday and then lifted a cent on Thursday. The EMI thus closed the week down three cents at 722 A cents. 87% of the offering was sold.
In New Zealand, the Fine and Medium Indicators were not quoted. The Strong Indicator was unchanged at 371 NZ cents whilst the Lamb Indicator was up a cent at 370 NZ cents. There was an 88% clearance of the offering of 9,262 bales.
The British sale of coarse wool saw prices softer for some types and only 55 percent of the auction catalogue sold.
Currencies
The Australian dollar was trading stronger against the pound at A$2.44/£ with the result that sterling prices for Australian wool were more than maintained, despite the softer Australian market. The New Zealand dollar was trading at 2.63 NZ cents/£ towards the end of the week.
Background
Early stage manufacturers continue to report weak levels of demand from their later stage customers in the wool chain. Several companies report that this has been especially apparent during the last two weeks.
FWG Agency
Marketing wool from the first voyage of the Marriane Danica is proceeding well against the current global wool and currency background.
Please would farmers who have not already done so, please send asap the bale specifications for their bales on the second FIC voyage. Many thanks.
With Best Wishes
Robert
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