WOOL'S eastern market indicator (EMI) fell by 1.6pc, down by 14¢/kg this week, as the market’s volatile price wobbles continued, with the rising $A, especially against the $US, the main contributor.
The EMI closed on Thursday night at 853¢/kg, losing all of last week’s 1.2pc rise, when the EMI had closed at 867¢/kg.
AWEX points out that market movements this week were mostly confined to the opening day (Wednesday), with prices steady on Thursday.
Viewed in the currencies of our major customers, this week’s price also fell, with the EMI down by 1.2pc in $US terms, in the face of the surging $A exchange rate this week.
The $A hit a 15-month high after rising steadily all week, reaching US93.5¢ on Thursday.
Performance of the regional indicators this week was:
• Northern, in Sydney, down 10¢/kg, to 880¢/kg.
• Southern, in Melbourne, down 18¢/kg, to 831¢/kg.
• Western, in Fremantle, down 11¢/kg, to 860ç/kg.
A total of 46,500 bales was offered nationally, with 14pc passed in. That’s down from the recent bigger national offerings of more than 50,000 bales.
Almost 50,000 bales are expected to be offered in three centre’s next week, including a three-day Melbourne sale.
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