S.Atlantic : Falkland Wool Growers Report for 23/05/03
Submitted by SARTMA.com (Juanita Brock) 25.05.2003 (Article Archived on 08.06.2003)
This report by Robert Hall explains what happened in the Wool Market last week.
Wool Market Report: Friday 23rd May 2003
Wool Markets
Australia saw the EMI drift another nine cents on Wednesday and six cents on Thursday. The EMI thus lost 15 cents on the week, closing at 847 A cents. Pass-ins rates were lower at 24 percent. Factors being blamed include the poor quality of much of the wool and China’s continued absence.
In South Africa the Cape Wools Overall Merino Indicator was almost unchanged on a fortnight ago, gaining 0.1% from 3,109 to 3,111 SA cents. Support came from the weaker rand.
In New Zealand the Fine Indicator was not quoted. The Medium Indicator was quoted 11 percent lower at 610 NZ cents, the Strong Indicator gained eight cents to 422 NZ cents whilst the Lamb Indicator also added eight cents to end at 395 NZ cents.
Currencies
The Australian dollar traded at $2.48/£ for much of the week whilst the New Zealand dollar was again around NZ$2.81/£.
Agency
The delayed Atlantic Crusader bales of wool concluded arriving at Bower Green this week. The delayed Elizabeth Boye is currently anticipated to arrive at Shoreham 6th June.
Good general enquiry was received for a full range of Falkland fleece and oddment types with some good business booked.
Please remit all remaining bale specifications especially for wool on the Elizabeth Boye.
With Regards
Robert
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