S.Atlantic : Falkland Wool Growers Report for Week Ending 31/10
Submitted by SARTMA.com (Juanita Brock) 01.11.2003 (Article Archived on 15.11.2003)
Find out what the wool market did last week.
WOOL REPORT: for the week ending Friday 31st October 2003
Auctions
The Australian Eastern Market Indicator put on two cents on Tuesday, lost four cents on Wednesday and eased a cent on Thursday. The EMI closed the week down three cents at 807 A cents. The Australian market was thus relatively steady this week but still touched a new 34-month low of 807 Australian cents per kg clean. The Wool Exchange’s Eastern Market Indicator has now shed 13.8% this season. Of the 52 thousand bales offered nationally, 85% were sold this week. WRWMR.
In New Zealand the Fine Indicator was quoted five cents up at 1081 NZ cents, whilst the Medium Indicator dropped 24 cents to 584 NZ cents. The Strong Indicator lost eight cents to end at 407 NZ cents. The Lamb Indicator was not quoted for the second week.
The Cape Wools Overall Merino Indicator lost 2.3% dropping from 3,119 SA cents to 3,047 SA cents. The stronger rand was responsible for the loss.
Currencies
This week the Australian dollar was trading at around A$2.40/£. The New Zealand dollar was trading at around NZ$2.77/£.
FWG Agency
Speciality enquiry for scouring Falklands wool was received this week.
The main priority this shearing season is ensuring first class quality control in all Falkland wool sheds.
All additional new season supplies of Falkland wool, would be welcomed by our speciality customers.
Many thanks for all the wool marketing instructions received.
With Regards
Robert
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