Falklands : Falkland Wool Growers Report for week ending 10 June 2005
Submitted by Falkland Islands News Network (Juanita Brock) 16.06.2005 (Article Archived on 30.06.2005)
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 10th June 2005
Auctions
Starting the week at 724 A cents, the Australian Eastern Market Indicator (EMI) lost nine cents on Wednesday before drifting two cents on Thursday. The EMI thus closed the week down 1.5 percent or 11 cents at 713 A cents. This is the lowest level of the indicator since November 2001. The weakening of both the American dollar and the euro were key factors in the drifting indicator.
In New Zealand, the Fine Crossbred Indicator (33-35µ) dropped 9 cents to 356 NZ cents on the fortnight, the Coarse Crossbred Indicator (35.1+µ) dropped 10 cents to 345 cents on the week, whilst the Lamb Indicator also dropped 10 to 351 NZ cents.
Currencies
The Australian dollar was trading strongly against the pound at A$2.37/£ with the result that sterling prices for Australian wool gained a penny or two for a number of micron categories.
The New Zealand dollar was trading stronger at 2.56 NZ cents/£ towards the end of the week.
FWG Agency
We had a useful meeting with an important customer and met Robert Rowlands (SS) with whom we discussed shipping/transport issues.
Over half of the second voyage wool from the Marianne Danica has been transported to Bower Green.
Significant payments were made to farms this week, more statements are under preparation for airmailing.
With Best Wishes
Robert
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