Falklands : Falkland Wool Growers Report for Week Ending 14 April 2006
Submitted by Falkland Islands News Network (Juanita Brock) 17.04.2006 (Article Archived on 01.05.2006)
Robert Hall tells us about what the wool market did last week.
WOOL REPORT: for the week ending Friday 14th April 2006
Auctions
In Australia, after last week’s decline from 736 A cents to 728 A cents, this week the Australian Eastern Market Indicator (EMI) lost two cents on Tuesday and recovered the same on Wednesday. The EMI thus closed the week unchanged at 728 cents. Wool of 20 to 23 microns was level whilst coarser wool tended to lose ground. Of the 46,392 bales offered, a significant 19% were passed in.
This week in New Zealand, the Merino Indicator and the Mid-micron Indicator were not quoted. The Fine Crossbred Indicator (33-35µ) was down seven cents to 405 NZ cents and the Coarse Crossbred Indicator (35.1+µ) moved down five cents on the week to 355 cents. The Lamb Indicator lost 10 cents this week to close at 384 NZ cents.
There wasn’t a South African auction this week.
The British auction saw it’s indicator slip by a penny to 74 pence/kg greasy. Over 70% of the offering was sold.
Currencies
Towards the end of the week, the Australian dollar was trading at A$2.39/£ whilst the New Zealand dollar was at 2.85 NZ cents/£.
Background
With the long Easter weekend, many traders were in semi-holiday mode, with staff taking the whole week off. Consequently manufacturers reported a quiet week for enquiries. Next week there are no auctions in Australia and many Northern Hemisphere companies will be taking holidays.
FWG Agency
I checked Voyage 1 wool at Bower Green on Monday. The wool has all now arrived in the warehouse and coring is well underway. A few early results have been received and more are expected next week. Speciality enquiries continue as have our meetings with buyers.
With Best Wishes for a Happy Easter, Robert & Diane
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