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 Wool prices lift on Thursday, helped by falling $A 

Wool prices lift on Thursday, helped by falling $A

7/08/2008 6:28:00 PM
After a bad start to wool auctions this week, the weakening $A helped to lift wool prices at auction in Australia on Thursday, the last day of selling this week.

The benchmark eastern market indicator (EMI)on Thursday rose by 3c/kg, to close the week on 846c/kg.

When wool sales resumed on Tuesday, the prices had dropped sharply in the first sales after the winter break, closing at 843c/kg (clean).

Tthe EMI had fallen by 21c/kg, after auctions in Sydney and Melbourne.

That was a fall on 2.4pc since the last wool sale on July 9.

Prices then began to steady on Wednesday.

But expressed in terms of $US, which indicates wool prices in the eyes of many of our customers, the EMI on Thursday actually continued its price slide, down US4c/kg, to US769c/kg.

All regional market indicators in Australia on Thursday lifted:

• In Sydney, the northern indicator rose by 2c/kg, to 882c/kg.

• In Melbourne, the southern indicator rose by 5c/kg, to 818c/kg.

• In Fremantle, the western indcator rose the most amog the three sellinbg centres - up by 6c/kg, to 824c/kg.

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