S.Atlantic : Falkland Wool Growers Report for 30 January 2004
Submitted by SARTMA.com (Juanita Brock) 02.02.2004 (Article Archived on 16.02.2004)
Find out what the wool market did last week.
WOOL REPORT: for the week ending Friday 30th January 2004
Auctions
The Australian market’s Eastern Market Indicator lost another 2.4 percent this week, with wool finer than 24 microns most affected. The EMI dropped 20 cents on Wednesday and lost a further two cents on Thursday. The EMI thus closed the week 22 cents lower at 789 A cents. “Traders adoped a wait-and-see stance in what continues to be an erratic environment in terms of offerings, business and currency.” WRWMR
In New Zealand the Fine Indicator was quoted at 1,086 NZ cents. The Medium Indicator added 11 cents to 536 NZ cents. The Strong Indicator was unchanged at 368 NZ cents, whilst the Lamb Indicator gained four cents to also close at 368 NZ cents.
The Cape Wools Overall Merino Indicator reversed 5.2 percent from 3,516 SA cents to 3,332 SA cents. 92% changed hands.
Wool Stocks
“The Australian Wool Exchange says that 705,244 bales of wool are in brokers’ stores nationally, compared with 381,192 bales a year ago” WRWMR. Such stocks, currency movements, lower new season price levels and current demand will ensure that 2004 will differ significantly from 2003.
Currencies
The Australian dollar traded stronger towards the end of the week at 2.35 A cents/£ whilst the New Zealand dollar was also stronger at around 2.69 NZ cents/£.
FWG Agency
We received good interest from several speciality buyers this week. All additional supplies of Falkland wool would be much welcomed by our speciality customers.
Many thanks for all the bale specifications received of late.
With Regards
Robert.
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