S.Atlantic : Falkland Wool Growers Report for 18 July 2003
Submitted by SARTMA.com (Juanita Brock) 21.07.2003 (Article Archived on 04.08.2003)
Find out what the wool market did last week
WOOL REPORT: for the week ending Friday 18th July 2003
The only wool auction this week was in New Zealand, where their new season opened softer. Prices were generally three to five percent cheaper, for the largely 37 to 40 microns North Island wool. Pass-ins were 15%. The Strong Indicator fell 12 cents to 414 NZ cents and the Lamb Indicator also fell 12 cents but to 413 NZ cents.
There were no wool auctions in Australia, Britain, and South Africa this week.
For much of the week the Australian dollar was trading around A$2.43/£ whilst the New Zealand dollar was trading at about NZ$2.72/£.
Pressure on Combers
"Global wool demand, as measured by wool cleared to the trade and wool production are closely balanced at around 1,215 million kg clean."
"The situation of ever-tightening wool supply, high wool prices and persistent weak retail demand, particularly in Japan and the euro zone, will place more pressure on woolcombers, where there remains over-capacity despite a falling world wool clip." Ref: The Woolmark Company/ WRWMR.
We had good levels of speciality enquiry and booked an excellent range of business.
The Atlantic Crusader (Voyage 7) wool should now start moving to Bradford sometime next week.