Western Wool Indicator remains unchanged at 956¢

Tuesday, March 25, 2008 (Australia)

The Australian wool market finished 0.6% lower, on average, at sales in Sydney and Melbourne this week.

The AWEX EMI fell by 5¢ (-0.5%), ending the week at 961¢/kg. This reflected decreases of 8¢ (-0.8%) in the North and 4¢ (-0.4%) in the South, with their corresponding Regional Indicators finishing the week at 1003¢ and 925¢ clean, respectively. The Western Indicator remained unchanged at 956¢, as there was no sale in Fremantle this week.

In a two day sale in Sydney and Melbourne, the AWEX EMI was unchanged on Tuesday and fell by 5¢ on Wednesday.

44,675 bales were on offer, compared with 53,698 bales in a three day sale last week, of which 11.7% were passed in, comprised of 10.2% in Sydney and 12.6% in Melbourne. Pass-in rates for Merino fleece and skirtings were 10.3% and 16.3%, respectively. 1,705 bales (3.7%) were withdrawn prior to sale and re-offered bales made up 10.8% of this week's offering.

The US exchange rate (source RBA) was 0.90¢ lower on Monday when compared with Thursday of last week. It was down by a further 0.50¢ on Tuesday, up by 1.08¢ on Wednesday to close at 93.25¢, down 0.32¢ (-0.3%) since the last sale.

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