Pleasing sales in Aussie wool market

Australian Wool Industries Secretariat Inc (AWIS) releases wool sale report for the week ending 16th December 2011.

The Australian Wool Exchange (AWEX) Regional Indicators finished 2.2% higher, on average, in Sydney, Melbourne and Fremantle this week when the US exchange rate fell by 3.6%. These were the last sales prior to the three week Christmas break.

The market stated slowly on Tuesday, but gained strong momentum on Wednesday after reports of sales to China, and later sales in Europe. The upward movement continued on Thursday, when only the South sold. It was a pleasing finish prior to the three week Christmas break. The fall in the US exchange rate was helpful in a week of low global economic confidence.

The Eastern Market Indicator (EMI) has finished the first half of the season at 1189¢, 158¢ higher than in the same week last year. The season average of 1233¢ is 302¢ higher than the season average at the end of Week 24 last year.

The bigger rise in the Western Indicator was associated with increases of 36¢ and 53¢, respectively in the 18.0 and 18.5 AWEX Micron Price Guide (MPGs) in Fremantle on Tuesday.

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