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 Wool market finishes the week 0.4pc higher 

Wool market finishes the week 0.4pc higher

05 Sep, 2008 07:59 PM
The Australian wool market has finished 0.4pc higher, on average, after sales in Sydney, Melbourne and Fremantle this week.

After an up-and-down week, the AWEX eastern market indicator ended the week 5c/kg higher (+0.6pc) at 855c/kg (clean).

Region by region:

* the northern indicator has risen 5c/kg this week to 892c/kg;

* the southern indicator has gained 4c/kg to sit at 823c/kg; and

* the western indicator has firmed by 2c/kg to 834c/kg.

According to AWEX, at the two-day sale in Sydney and Melbourne the EMI rose by 7cc/kg on Wednesday but fell by 2c/kg on Thursday.

Similarly, the Western Indicator rose by 7c/kg on Wednesday and fell by 5cc/kg on Thursday in a two day sale in Fremantle.

AWEX reports there were 38,007 bales were on offer, compared with 37,985 bales last week, of which 10.2pc were passed in.

Some 2041 bales (5.1pc) were withdrawn prior to sale and re-offered bales made up 13.1pc of this week's offering.

Average AWEX Micron Price Guides (MPGs) were up by 9c for 17.0 microns and 17.5 microns; by 4c for 18.0 microns, by 7c for 18.5 microns; by 6c for 19.0 microns and by 7c for 19.5 microns.

The 20.0 micron wool average MPG was up by 6c, 21.0 microns by 13c, 22.0 microns was unchanged, 23.0 microns was up by 3c, and 24.0 microns by 3c.

AWEX reports that buyers for China were particularly dominant, with support from buyers for Europe and India.

There were some suggestions of better demand from Europe as the industry returns from summer vacation.

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