Falklands : Falkland Wool Growers Report for Week Ending 16/06/02
Submitted by Falkland Islands News Network (Juanita Brock) 19.06.2006 (Article Archived on 03.07.2006)
Robert Hall tells us how the wool market did last week.
WOOL REPORT: for the week ending Friday 16th June 2006
Auctions
In Australia, the Australian Eastern Market Indicator (EMI) gained a cent on Wednesday and remained unchanged on Thursday. The EMI thus closed the week up a cent at 729 cents. Pass-in rates averaged 14 percent of the 51,983 bales offered. About 29% of the fleece wool had been offered previously. “With two more weeks to go of the 2005/06 season, the EMI is 3.3% below the season’s high of 754 cents, which was achieved in the second week in March but 15%, or 96 cents, above the level at the end of last year. A year ago, the market stood at 705 cents, its lowest level since November 2001.” WRWMR
There was no New Zealand auction this week.
The South African season closed this week. The Cape Wools Overall Merino Indicator started at 2,835 SA cents per kg clean from a fortnight ago and lost 6.3% to close at 2,817 SA cents per kg clean. 93% was sold. Currency movements explained the drop, together with the larger than expected offering. WRWMR
The final sale of the 2005/06 season in Britain saw the indicator unchanged at 72 p/kg greasy for the 2.9M kg offered. 75% of current season’s wool sold.
Currencies
Towards the end of the week, the Australian dollar was trading a cent weaker at A$2.49/£ whilst the New Zealand dollar was stronger at 2.94 NZ cents/£.
FWG Agency
Core sampling is approaching completion and testing is well underway for the second FIC and SAAS voyages.
Almost all wool from early shipments has been contracted. More copy invoices and statements have been airmailed.
With Best Wishes, Robert
|
