Wool Market Report: Friday 30th May 2003
Wool Markets
Australia saw a partial recovery this week. The EMI added 38 cents on Wednesday and put on a further 31 cents on Thursday. The EMI thus gained 69 cents (8.1%) on the week, closing at 916 A cents having previously lost 21.5 percent since Easter. Pass-ins rates were lower at 11 percent. China was active again and Europe dominant.
In South Africa the Cape Wools Overall Merino Indicator gained 13 percent moving from 3,111 to 3,515 SA cents. Support came from the weaker rand.
In New Zealand the Fine Indicator and Medium Indicators were not quoted. The Strong Indicator gained three cents to 425 NZ cents whilst the Lamb Indicator added 21 cents to end at 416 NZ cents.
Currencies
The Australian dollar closed in London for the week at $2.514/£ whilst the New Zealand dollar closed at NZ$2.83.8/£.
Finer types gained most
The combination of wool and currency factors meant that wool of 24.0 microns and finer made significant sterling price gains this week, 25 to 27 microns were little changed, whilst there were modest additions to 28 to 30 microns fleece wool prices.
Agency
The Atlantic Crusader results are being received. The delayed Elizabeth Boye is currently anticipated to arrive at Shoreham 9th June.
Good speciality enquiry was received for a range of Falkland fleece types.
Please remit all remaining bale specifications especially for wool on the Elizabeth Boye.
With Regards
Robert
