Falklands : Falkland Wool Growers Report for Week Ending 23 June 2006
Submitted by Falkland Islands News Network (Juanita Brock) 27.06.2006 (Article Archived on 11.07.2006)
Robert Hall tells us what happened in the wool markets last week.
WOOL REPORT: for the week ending Friday 23rd June 2006
Auctions
In Australia, the Australian Eastern Market Indicator (EMI) lost a cent on Wednesday and drifted another three cents on Thursday. The EMI thus closed the week down four cents at 725 cents. Pass-in rates averaged 13 percent of the 37,263 bales offered. Buyers considered this a disappointing week, given the drift in prices against a fairly small offering. Finer wool below 20 microns lost noticeable ground.
This week in New Zealand, the Merino and Medium Indicators were not quoted. The Fine Crossbred Indicator (33-35µ) was down another 12 cents to 375 NZ cents from the 8/6/06 sale. The Coarse Crossbred Indicator (35.1+µ) moved down nine cents on the fortnight to 340 cents. The Lamb Indicator lost six cents on the fortnight to close at 362 NZ cents. There was a pass-in rate of 15% of the 18,129 bales offering. Some blamed the softer market on the 28% wool offered over and above that rostered, yet at 18 thousand bales it was substantially smaller than the 31 thousand bales offered a fortnight ago.
There were no British or South African auctions this week.
Currencies
Towards the end of the week, the Australian dollar was trading a cent stronger at A$2.48/£ whilst the New Zealand dollar was weaker on the week at 2.98 NZ cents/£, yet having been at 3.00 NZ cents/£ during the last week.
FWG Agency
Core sampling is complete and testing is well underway for the second FIC and SAAS voyages.
More copy invoices and statements have been airmailed.
With Best Wishes, Robert
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