In light of the intense activity of the past three or four weeks at Australian wool auction sales, the market produced a rather mundane result this week. Whilst some of the finest Merino microns showed some negative price tracking, the majority of the offering, which was 18 to 22 microns, was largely firm to unchanged and traded strongly throughout. Similarly the cross-bred and carding sectors produced very little change in their values over the course of the selling week.
The AWEX EMI (eastern market indicator) finished the week at 1556ac/clean kg which was just 2ac lower than the previous weeks close. The weakening USD caused the EMI when expressed in USD to gain 12usc clean/kg or 1.1% which was wholly due to the stronger AUD v USD exchange rate. Interesting to note that on the same week of selling last year, the EMI stood at a level of 1305ac, so as of today, the AWEX EMI has appreciated over 19% in just 12 months.
Click here to access AWI's Wool Weekly Market Report (PDF 900 KB)