Falklands : Falkland Wool Growers Report for Week Ending 09/22/06)
Submitted by Falkland Islands News Network (Juanita Brock) 23.09.2006 (Article Archived on 07.10.2006)
Robert Hall of Falkland Wool Growers updates us on what happened in the wool market last week.
WOOL REPORT: for the week ending Friday 22nd September 2006
Auctions
In Australia, the Eastern Market Indicator (EMI) rose from last week’s close of 753 up a cent on both Tuesday and on Wednesday but then drifted three cents on Thursday. The EMI thus closed the week down a cent at 752 cents. The drop on Thursday occurred as the local currency strengthened however “the slippage was due more to the prospect of a 70,745 offering next week, the season’s biggest, than exchange rates.” WRWMR
The New Zealand Merino Indicator was quoted down 40 on the fortnight to 1,146 NZ cents. The Mid Micron Indicator was quoted down 19 cents on the week to 630 NZ cents, the Fine Crossbred Indicator down 12 cents to 377 NZ cents and the Strong Crossbred Indicator down five to 335 NZ cents. The Lambs Indicator wasn’t quoted. Only 73.7% was sold in quieter trading conditions with a stronger local dollar against the US dollar.
In South Africa the Cape Wools Overall Merino Indicator started at 3,072 SA cents per kg clean and closed unchanged at 3,072 SA cents. 96% was sold.
In Britain, the Indicator was unchanged, after a clearance of 86 percent.
Currencies
Towards the end of the week, the Australian dollar was trading stronger at A$2.51/Ł whilst the New Zealand dollar was weaker at NZ$2.86 /Ł.
Woollen Look back in fashion
“The return of the English Woollen Look – such as tweeds, Donegals and Shetlands – in ladies wear and men’s wear is the big story at Premier Vision, in Paris, this week. One British weaver has been receiving 100 customers a day. The show of fabrics for autumn/winter 2007/08 follows the upbeat mood at Milano Unica last week.” WRWMR
FWG Agency
Speciality sales yesterday of 25.9µ at 236 p/kg gross, +14 p/kg above the benchmark of 222p/kg and 28.1µ at 205 p/kg gross, +14 p/kg above the benchmark of 191 p/kg gross; demonstrate the quality of our customer base and bode well for our Farm Principals in the forthcoming season.
With Best Wishes
Robert
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