Wk 17 27/10/2016. The AWEX EMI closed the week on 1,331 maintaining its 64 week high set at auction sales in Australia.
The week faced a few challenges with the weekly offerings of 45,000 bales being 30% over last week’s and a week that saw the AUD exchange rate with the USD fluctuate wildly from 75.80usc to over 77usc.
In the fleece categories the strong demand for best style and measured superfine fleece continued, however results across the sale centres was varied with a slight easing in the 18-18.5 micron northern MPG’s which was the only real stand out for the week.
Skirtings posted similar strong results for the week with the best posting a price increase of 20c, whilst the crossbred downward trend continued to disappoint. Conversely the jewel in the Australian market this week was the merino carding sector posting up to 30c increases on the other weeks.
Next week’s offering of 49,359 bales and 50% of the offering in the Southern region may place some pressure on the EMI. This week’s forward market showed some solid signs of support out until March 2017 trading up to $15.30. In the 21 micron contracts November traded at $14.20, December at $14.00 and March 2017 to $13.85. ~ Marty Moses