Falkland Wool Growers Ltd
Craiglearan, Moniaive
Thornhill, Dumfriesshire DG3 4JD
Tel: 01848 200 497 Fax: 01848 200 489
Email: roberthall@falklandwoolgrowers.co.uk
Registered in Scotland No: 176228
VAT Reg No: 699 5128 75
WOOL REPORT: for the week ending Friday 3rd September 2004
Auctions
“After a healthy start, the Australian market closed softer this week. The Wool Exchange’s Eastern Market Indicator slipped to a low for the new season of 775 cents per kg clean, 5% down compared with the end of the 2003/04 season nine weeks ago and 16% below a year ago.” WRWMR
The Australian Eastern Market Indicator (EMI) gained a cent to 779 A cents on Tuesday, added three cents on Wednesday and lost seven cents on Thursday. The EMI thus closed the week down three cents at 775 A cents. Pass-ins averaged 10.5%.
In New Zealand the Fine Indicator was quoted up 28 cents on the fortnight, to 1,068 NZ cents. The Medium Indicator was quoted down two cents on the week at 550 NZ cents. The Strong Indicator was up three cents to 417 NZ cents whilst the Lamb Indicator was not quoted. There was an 85% clearance.
The South African Overall Merino Indicator rose 1.35% on the fortnight, from 2,779 SA cents to 2,816 SA cents/kg clean.
Currencies
The Australian dollar was trading about two cents weaker at A$2.56/£. The New Zealand dollar was about three cents stronger at 2.73 NZ cents/£.
China
“ China appears to be operating very hand to mouth and it is possible that financial controls aimed at taking some of the heat out of the Chinese economy may be starting to have an impact on the wool sector….Chinese banks have tightened up on loans, without which the cashmere industry, listed as one of the sectors posing high credit risks, will have to limit raw-material purchases.” WRWMR
FWG Agency
Interesting speciality enquiries were received this week. Any additional supplies of wool would be much welcomed by our customers.
Many statements are en-route to farms.
With Best Wishes
Robert
