Falkland Wool Growers Report for Week Ending 25 July

The only wool auction this week was in the United Kingdom, where the second new season sale had 2.5 M kilos offered. ‘There was strong competition throughout the catalogue resulting in a clearance of about 90 percent.’ Prices were firm to five percent dearer.

There were no wool auctions in Australia, New Zealand and South Africa this week. Sales resume next week.

For much of the week the Australian dollar was trading around A$2.42/£ whilst the New Zealand dollar was trading at about NZ$2.76/£.

With no fine wool auctions for several weeks buyers have been taking their lead from the wool futures markets. Prices early in the Australian recess had increased, encouraged by manufacturing business levels however more recently futures prices decreased to around their pre-recess levels suggesting buyers anticipate the market now opening softer. This change of sentiment seems to have been brought about by there being less manufacturing business booked most recently and the view that China may not be a strong buyer as markets open.

We again had very good levels of enquiry and booked an excellent range of business especially early in the week.

The Atlantic Crusader (Voyage 7) wool is being core sampled.

With Regards

Robert Hall