The AWEX EMI rose by 1c (+0.1pc), ending the week at 874c/kg. This reflected a fall of 2c (-0.2pc) in the North and an increase of 5c (+0.6pc) in the South, with their corresponding regional indicators finishing the week at 910c and 845c clean, respectively. The Western Indicator rose by 7c (+0.8pc), finishing the week at 854c.

In a two day sale in Sydney and Melbourne, the AWEX EMI fell by 1c on Wednesday and rose by 2c on Thursday. The Western Indicator rose by 7c on Wednesday in a one day sale in Fremantle.

A total 40,292 bales were on offer compared with 19,646 bales last week (when only Sydney and Melbourne sold), of which 8.2pc were passed in, comprised of 5.4pc in Sydney, 7.8pc in Melbourne and 12.5pc in Fremantle. Pass-in rates for Merino fleece and skirtings were 7.7pc and 9.0pc, respectively. A total 1302 bales (3.1pc) were withdrawn prior to sale and re-offered bales made up 15.5pc of this week's offering.

The US exchange rate (source RBA) was 1.28c higher on Monday when compared with Wednesday of last week. It was then down by 0.16c on Tuesday, up by 0.40c on Wednesday and was unchanged on Thursday to close at 95.67c, up 1.52c (+1.6pc) since the last sale.

The exchange rate against the Euro rose by 0.59 Euro cents (+1.0pc) to close at 61.43 Euro cents on Thursday night. When looked at in other currencies, the AWEX EMI moved up by 14c (+1.7pc) in US terms and by 6c (+1.1pc) in Euro terms when compared with the previous sale.

The market remained firm this week against a rising United States exchange rate.

Clearance rates were very good, particularly on Thursday when the pass-in rate was 5.3pc. Competition continued to be strong for the better types of wool, with prices lifting on both days of selling.