Wool Market Review Week 45
AWIS WOOL MARKET REVIEW
Week Ending 8 May 2015 (Week 45)
The AWEX EMI finished 69¢ higher (+5.9%) in Australian currency and 56¢ higher (+6.0%) in US currency at sales in Sydney, Melbourne and Fremantle this week.
The EMI is at its highest level since mid-February 2012 and the WMI is at its highest level since mid-December 2011.
43,985 bales were on offer nationally, compared with 44,301 bales last sale. 1.1% of the offering was passed in.
Previously held wool continues to rush onto the market, with offerings up by 6.7% to date; and expected to be up by 15.6% over the next three sales.
Buyers for China were the principal drivers of the market. But, there was a strong presence from Europe, together with support from India.