Weekly Report
WOOL REPORT: for the week ending Friday 1st July 2011
Auctions
At auctions in Australia the EMI at slipped 11 cents on Wednesday and 16 cents on Thursday, to close the week down 27 cents at 1,409 A cents, with a clearance of 84.3%. 39,987 bales are offered next week.
In New Zealand: the Merino Indicator was not quoted. The Mid-Micron Indicator was up eight cents at 1,017 NZ cents. The Fine Crossbred Indicator ended two cents better at 695 NZ cents, whilst the Coarse Crossbred Indicator closed three cents higher at 648 NZ cents. The Lamb indicator ended two cents up at 638 NZ cents.
There were no British or South African wool auctions this week.
Currencies
By the end of the week, the Australian dollar was trading at about A$1.50/£, whilst the New Zealand dollar was trading at about NZ$1.94/£.
Background
This week concluded the 2010/2011 season with the Australian EMI opening the year at the season’s low point of 865 A cents and reaching a high of 1,436 A cents on 23rd June 2011. Prices in 2010/2011 thus compare favourably with the EMI’s average since 1979 of about 757 A cents.
FWG Agency
Deliveries proceeding well.
Best Wishes
Robert