Falklands : Falkland Wool Growers Report for Week Ending (07/07/06)
Submitted by Falkland Islands News Network (Juanita Brock) 10.07.2006 (Article Archived on 24.07.2006)
Robert Hall updates us on how the wool market did last week.
WOOL REPORT: for the week ending Friday 7th July 2006
Auctions
Australia started the new 2006/2007 season by revising the Australian Eastern Market Indicator (EMI). The 17, 18, 25 and 26 micron indicators were re-based, with the EMI starting the season at 749 A cents.
On Tuesday the EMI lost two cents from the re-based level, on Wednesday the EMI was unchanged at 747 A cents and on Thursday the EMI closed the week at 749 cents. Pass-in rates averaged 12 percent of the substantial 73,000 bales offered.
Wool finer that 20 microns was significantly dearer. Fleece wool of 25 microns was significantly cheaper, whilst other types were unchanged or firmer.
Only Melbourne auctions wool next week, ahead of the Australian recess.
There were no wool auctions in New Zealand and South Africa this week.
A coarser British wool auction saw a 70 percent clearance and their indicator unchanged at 72 p/kg greasy.
Currencies
Towards the end of the week, the Australian dollar was trading a cent stronger at A$2.47/£ whilst the New Zealand dollar was weaker on the week at 302 NZ cents/£.
FWG Agency
Paperwork was concluded to transport wool to a new mill destination, out-with the European Union.
Several interesting enquiries led to business being booked, including a particularly good speciality-scouring contract.
With Best Wishes, Robert
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