Falklands : Falkland Wool Growers Report for Week Ending 18 may 2007
Submitted by Falkland Islands News Network (Juanita Brock) 19.05.2007 (Article Archived on 02.06.2007)
Robert Hall of FWG tells us what the wool market did last week.
WOOL REPORT: for the week ending Friday 18th May 2007
Auctions
The Australian Eastern Market Indicator was up 10 cents on Wednesday before moving up eight cents on Thursday. The EMI therefore gained 18 cents on the week to close at 980 A cents; a new high point for the season. There was a 96% clearance of the 52,262 offering. “The continued scramble for Australian wool reflects limited offerings in the coming weeks and hand-to-mouth ordering.”
15/2/07). The Fine Crossbred Indicator was up four cents at 333 NZ cents whilst the Strong Crossbred Indicator gained three cents to 315 NZ cents. The Lambs Indicator was up seven cents at 333 NZ cents. There was an 88% clearance of the 11,895 bale offering.
In South Africa the Cape Wools Overall Merino Indicator was up 1.2% from 4,063 to 4,113 SA cents/kg clean. There was a 97% clearance of the 9,471 bales offered.
Currencies
The Australian dollar was trading again at about A$2.39/£ whilst the New Zealand dollar was a cent weaker at NZ$2.70/£. These currency levels combined with the wool markets to lift sterling prices.
FWG Agency
The IWTO that last met in the UK in 1995, met this week in Edinburgh. Three and a half days of seminars and meetings focused on “Wool Marketing through Design and Innovation” provided a good, local opportunity to meet customers and contacts from different parts of the world. The last meeting of such a size in the UK was the World Wool Conference in Bradford, in March 2003, that I also attended.
FIC voyage 10 has docked and cleared customs with containers starting into Bradford on Monday. SAAS voyage 9 has docked and is receiving customs inspections.
With Best Wishes
Robert and Diane
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