Falklands : Falkland Wool Growers Report for Week Ending 20/10/06
Submitted by Falkland Islands News Network (Juanita Brock) 24.10.2006 (Article Archived on 07.11.2006)
Robert Hall tells us how the wool markets id last week.
WOOL REPORT: for the week ending Friday 20th October 2006
Auctions
In Australia, the Eastern Market Indicator (EMI) rose from last week’s close of 741, up five cents on Tuesday, then a further increase of six cents on Wednesday, followed by an additional lift of three cents on Thursday. The EMI thus closed the week up 14 cents (+1.89%) at a new seasonal high of 755 cents. Wool of 20 to 24 microns made the greatest gains. There was a 93% clearance of the 58,929 bales offered.
The New Zealand Merino Indicator was quoted up seven cents on the fortnight at 1,125 NZ cents and the Mid Micron Indicator was quoted up two cents on the fortnight to 604 NZ cents. On the week, the Fine Crossbred Indicator was up 11 cents to 363 NZ cents and the Strong Crossbred Indicator up six cents 344 NZ cents. The Lambs Indicator wasn’t quoted. There was an 88% clearance of the 13,800 bales offered.
In South Africa, the Cape Wools Overall Merino Indicator started at 3,108 SA cents per kg clean and closed up 2.1 percent at 3,173 SA cents. There was a 98% clearance of the small offering of 6,290 bales.
In Britain the week’s sale saw the indicator unchanged at 68 p/kg greasy, with 1.2 million kilos sold.
Currencies
Towards the end of the week, the Australian dollar was trading stronger at A$2.47/£ whilst the New Zealand dollar was at NZ$2.82 /£.
FWG Agency
Customers continue to discuss the new season.
With shearing gathering momentum, it is appropriate for all farmers to remind themselves and their helpers, of the importance of maintaining the highest quality control standards in the preparation of their clips. The export of stain free fleece lines is of the greatest importance.
With Best Wishes for everyone’s shearing season
Robert
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