S.Atlantic : Falkland Wool Growers Report for 05 September
Submitted by SARTMA.com (Juanita Brock) 09.09.2003 (Article Archived on 23.09.2003)
Find out what happened in the wool market last week.
WOOL REPORT: for the week ending Friday 5th September 2003
Auctions
The Australian Eastern Market Indicator rose seven cents on Wednesday and reversed six cents on Thursday. The EMI thus closed the week up a cent at 927 A cents.
In New Zealand the Fine Indicator was quoted at 1226 NZ vents, whilst the Medium Indicator recovered another four cents to 699 NZ cents. The Strong Indicator was quoted up at 438 NZ cents. The Lamb Indicator up 28 cents to 471 NZ cents.
In South Africa the Cape Wools Overall Merino Indicator lost 3.1 percent to move from 3,515 to 3,406 SA cents. The loss was generally attributed to the strength of the rand.
The British sale saw prices 2.5 to 7.5 percent dearer.
Currencies
For much of the week the Australian dollar was trading little changed at around A$2.46/£ whilst the New Zealand dollar was trading unchanged at NZ$2.75/£.
Background
European mills began starting up again this week.
"Prospects could be improving for a moderate retail recovery for wool in early 2004, according to the Woolmark Company. Their forecasters conclude ‘While the retail outlook remains challenging for wool textiles and apparel in the run-up to the autumn/winter 2003/04 season, early macro-economic signals are emerging that point to the potential for an improvement in global retail demand for wool in 2004.’" WMWMR.
With Regards
Robert Hall
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