WOOL’s eastern market indicator (EMI) has continued last week’s strong 3.2pc gains, rising nearly another 1pc at sales this week.
The EMI closed up by 7c/kg, to 846c/kg.
This week’s rise, however, was uneven, with prices rising by 12c/kg in Melbourne after recovering from what AWEX describes as a shaky start.
In contrast, Sydney’s indicator eased by 1c/kg. Again, AWEX says the market there recovered after earlier losing ground.
Fremantle sold strongly in a one-day sale, rising by 1.6pc, or 13c/kg, to 835c/kg.
AWEX’s closing regional indicators at auction were:
• Northern, in Sydney, down 1c/kg, to 865c/kg;
• Southern, in Melbourne, up 12c/kg, to 829c/kg; and
• Western, in Fremantle, up 13c/kg, to 835c/kg.
AWEX says the $A had eased to US86c by the start of the week. Then it recovered to US 87.14c by Thursday - just US0.3 cents lower than the previous week’s close.
A total of 44,694 bales were offered nationally this week, including a New Zealand catalogue offered on Tuesday.
Next week, 47,841 bales are rostered for sale, including the second Newcastle sale for the season.
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