Auctions

Overall the Australian Eastern Market Indicator (EMI) has had an indifferent fortnight. 

Last week the EMI lost eight cents to 716 A cents whilst this week it nearly recovered by

gaining five cents on Wednesday and added another two cents on Thursday.  The EMI

thus closed this week up seven cents at 723 A cents. Pass-ins averaged 11 percent.  No

supply squeezes are expected this  year with available supplies of all Australian types, likely

until the end of the season.

In New Zealand the Fine Indicator was not quoted.  The Medium Indicator was quoted

37 cents lower from 455 NZ cents a fortnight ago to 418 NZ cents.  The Strong Indicator was down

 five cents on the week at 358 NZ cents; whilst the Lamb Indicator was down seven cents at

 355 NZ cents. 

In South Africa the South African Overall Merino Indicator gained 5.3% from

2,361 to 2,487 SA cents/kg clean which is exactly where their market was two weeks ago. 

Currency was attributed as the main influence.

Currencies

The Australian dollar was trading stronger for much of the latter part of the

week at A$2.42/£. The New Zealand dollar was stronger at 2.58 NZ cents/£.

FWG Agency

The FIC’s Marianne Danica wool cargo is arriving at Bower Green’s warehouse. 

The transport job is expected to be completed next week, allowing core sampling

to be finished thereafter. 

A small number of SGS test results have come through.  The lead for the Fine

Wool Challenge Cup has been transferred from Head of the Bay with a very good

 early lead of 21.3 microns to Mount Kent with a spectacular 18.7 microns.

We have again had good enquiries at current market levels with some business

booked.  All additional supplies of wool would be welcome.

With Best Wishes

Robert