Falklands : Falkland Wool Growers Report for 11 April
Submitted by Falkland Islands News Network (Juanita Brock) 11.04.2003 (Article Archived on 25.04.2003)
Find out what happened in the wool market this week
Wool Market Report: Friday 11h April 2003
Wool Markets
In Australia the EMI rose four cents on Wednesday but went into reverse yesterday with a fall of 18 cents thus closing the week down 14 cents and removing about half of last week’s gains. Pass-ins averaged 34.4%. To blame were the Australian dollar moving up against the US dollar and the selection of wool being generally poor: an unfortunate ending before two weeks recess.
In South Africa the Overall Merino Indicator rose 0.3% from March 19th sale, moving from 3808 SA cents/kg to 3820 SA cents/kg.
In New Zealand the Fine Indicator was quoted at 1262 NZ cents, the Medium Indicator was not quoted, whilst the Strong Indicator rose ten cents to NZ 432 cents and the Lamb Indicator lifted 13 cents to 439 cents.
Next Sales
Australia’s next wool auction is on April 29th. South Africa sells both wool and mohair next week whilst New Zealand has auctions at both Napier and Christchurch next Thursday.
Currencies
The Australian dollar was trading at about 2.60/£ for much of the week and at the time of writing the New Zealand dollar was at 2.88/£.
Agency
Sales continue ahead of the forthcoming Easter recess with about forty tonnes contracted this week. Good speciality development continues.
Many thanks for all the bale specifications received lately.
With Regards
Robert
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