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Australia - Sale relocation worries wool growers [ 02 Jul, 2008]
Hunter wool growers are hoping the decision to move a big wool sale from Newcastle to Sydney is not part of a plan to scrap all local sales.
The industry fought hard to keep the August sale in Newcastle, arguing they have enough growers to keep it viable.
Five sales are still planned in Newcastle between September and February.
Elders' wool manager Craig Brennan says he hopes other local sales are not lost.
"We're still maintaining our quantities here in Newcastle. All the brokers are working hard in maintaining sales here in Newcastle, so we still have five sales that will be held here in Newcastle, the first one being September and going right through to February," he said.
Source: abc.net.au
Bullish trend on Australian wool market [ 29 Jun, 2008]
The Australian wool market finished 0.4 percent higher, on average, at sales in Sydney, Melbourne and Fremantle this week. The AWEX EMI rose by 1 Australian cent (0.1 percent), ending the week at 874 Aust cents a kg.
This reflected a fall of 2 Aust cents (0.2 percent) in the North and an increase of 5 Aust cents (0.6 percent) in the South, with their corresponding Regional Indicators finishing the week at 910 Aust cents and 845 Aust cents clean, respectively. The Western Indicator rose by 7 Aust cents (0.8 percent), finishing the week at 854 Aust cents.
In a two day sale in Sydney and Melbourne, the AWEX EMI fell by 1 Aust cent on Wednesday and rose by 2 Aust cents on Thursday. The Western Indicator rose by 7 Aust cents on Wednesday in a one day sale in Fremantle.
A total of 40,292 bales were on offer, compared with 19,646 bales last week (when only Sydney and Melbourne sold), of which 8.2 percent were passed in, comprised of 5.4 percent in Sydney, 7.8 percent in Melbourne and 12.5 percent in Fremantle. Pass-in rates for Merino fleece and skirtings were 7.7 percent and 9.0 percent, respectively. 1,302 bales (3.1 percent) were withdrawn prior to sale and re-offered bales made up 15.5 percent of this week's offering.
The market remained firm this week against a rising United States exchange rate. Clearance rates were very good, particularly on Thursday when the pass-in rate was 5.3 percent. Competition continued to be strong for the better types of wool, with prices lifting on both days of selling.
AWEX reported that an 11.6 micron lot from the famous Hillcreston/Pinehill brand sold for 269,000 cents in Sydney on Thursday. This was the finest diameter ever for a lot offered at auction.
Average AWEX Micron Price Guides (MPGs) were up by 12 Aust cents clean for 16.5 microns, by 7 Aust cents for 17.0 microns, by 9 Aust cents for 17.5 microns, by 3 Aust cents for 18.0 microns, down by 6 Aust cents for 18.5 microns, by 7 Aust cents for 19.0 microns and by 6 Aust cents for 19.5 microns.
The 20.0 micron wool average MPG was down by 4 Aust cents clean, 21.0 microns was up by 2 Aust cents, 22.0 microns by 9 Aust cents, 23.0 microns by 6 Aust cents, and 24.0 microns by 3 Aust cents. Skirtings continued to be strong demand on both days of selling while oddments eased slightly with a 5 Aust cents fall in the average Merino Cardings MPG.
All crossbred types were easier this week, with their average MPGs falling by 11 to 15 Aust cents at the fine end and 5 to 7 Aust cents for medium and coarse types. Once again, the majority of the wool was bought by buyers for China, with strong support from buyers for India.
Sales will be held in Sydney, Melbourne and Fremantle next week, when 46,259 bales are currently rostered for sale. The present estimate for the following sale is 35,840 bales, resulting in an increase of 14.1 percent over the two sale period when compared with last year.
The 14.1 percent increase in the offering needs to be kept in perspective as there was no sale in Week 2 last year and 72,000 bales were offered in Sale 1. South African sales are in recess until 20 August.
Source: Reuters
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