Australian wool EMI rises moderately this week

The Australian Wool Exchange's (AWEX) Eastern Market Indicator (EMI) increased 0.15 per cent to 1,339ac clean/kg during the sale week 14 of the current wool marketing season. The EMI grew as Australian dollar recovered against most currencies, growing at US$0.72, leading to 1.2 per cent rise in EMI in US dollar terms, to 975 usc cln/kg.

 

The Australian Wool Exchange's (AWEX) Eastern Market Indicator (EMI) increased 0.15 per cent to 1,339ac clean/kg during the sale week 14 of the current wool marketing season. The EMI grew as Australian dollar recovered against most currencies, growing at US$0.72, leading to 1.2 per cent rise in EMI in US dollar terms, to 975 usc cln/kg. #

“A rather mundane week at this week’s Australian wool auctions with very little price movements registered. Chinese top makers and local export traders were all active but appeared to be acting under stringent price sensitivity,” the Australian Wool Innovation (AWI) Limited said in its commentary for the week ending October 8. “Grower sellers were more readily accepting of the stability of prices on offer and a subsequent clearance rate of 88.6 per cent resulted, which is up from the 77.3 per cent of last week’s offering.”

 

The Australian Wool Exchange's (AWEX) Eastern Market Indicator (EMI) increased 0.15 per cent to 1,339ac clean/kg during the sale week 14 of the current wool marketing season. The EMI grew as Australian dollar recovered against most currencies, growing at US$0.72, leading to 1.2 per cent rise in EMI in US dollar terms, to 975 usc cln/kg. #

Additionally, merino fleece types finer than 18.5 micron were the most well sought this week and improved 30 to 40ac for the sale. The spinners and best top makers suited to the European processors held values but are still trading at around 7 to 10 per cent premium to the equivalent micron price guides.

 

The Australian Wool Exchange's (AWEX) Eastern Market Indicator (EMI) increased 0.15 per cent to 1,339ac clean/kg during the sale week 14 of the current wool marketing season. The EMI grew as Australian dollar recovered against most currencies, growing at US$0.72, leading to 1.2 per cent rise in EMI in US dollar terms, to 975 usc cln/kg. #

“The major Chinese top maker topped merino fleece buyers lists with good support from our local trader exporters. European and Indian interest was also visible. Italy continues to dominate the better wools,” AWI added.

 

The Australian Wool Exchange's (AWEX) Eastern Market Indicator (EMI) increased 0.15 per cent to 1,339ac clean/kg during the sale week 14 of the current wool marketing season. The EMI grew as Australian dollar recovered against most currencies, growing at US$0.72, leading to 1.2 per cent rise in EMI in US dollar terms, to 975 usc cln/kg. #

Moreover, for the next week AWI forecasts volumes to rise to 42,7555 bales.