Falklands : Falkland Wool Growers Report for Week Ending 03/24/06
Submitted by Falkland Islands News Network (Juanita Brock) 25.03.2006 (Article Archived on 08.04.2006)

Robert Hall tells us what the wool market did last week.

WOOL REPORT: for the week ending Friday 24^th March 2006

Auctions

In Australia, currency factors did unnerve the market this week.  The Australian Eastern Market Indicator (EMI) dropped five cents on Wednesday and lost another two cents on Thursday.  The EMI thus closed the week down seven cents (-0.93%) at 744 cents.  All types lost some ground with wool of 18 to 23 microns most affected.  The market was also influenced by inferior selections being offered.  There was an 86% clearance.

In South Africa the Cape Wools Overall Merino Indicator started the week at 2,627 SA cents per kg clean and lost 1.4% to close at 2,590 SA cents per kg clean.  Of the offering, 90% was sold.  “Analysts say a downward adjustment was expected, following the steep rise in greasy wool prices, which saw the Cape Indicator gaining 18% since January.” WRWMR

Currencies

Towards the end of the week, the Australian dollar was trading weaker at A$2.42/£ whilst the New Zealand dollar was weaker at 2.80 NZ cents/£.  These currency movements exacerbated the weaker wool market when converting to sterling.

FWG Agency

M/V Skaftafell, 2006 Voyage 1, has now cleared Customs and Health at Southampton.

Interesting enquiry was received with some stronger fleece wool business booked.

With Regards

Robert

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