The AWEX EMI finished 4¢ higher (+0.3%) in Australian currency and 54¢ higher (+6.7%) in US currency at sales in Sydney, Melbourne and Fremantle in Week 39.  The big differences between the changes in the two currencies was due to the 3.60¢ (+6.5%) lift in the US Exchange Rate from 55.71¢ in the previous week to close at 59.31¢.

42,934 bales were on offer nationally, compared with 41,986 bales last sale.  Sellers continued to display a reluctance to sell at the current market levels - 14.3% of the offering was passed in after 11.0% of the potential offering was withdrawn prior to sale.

AWEX reports that the value of the wool sold was $55.3 million ($1,503 per bale), taking the season total to $1.619 billion ($1,700 per bale).  The number of bales sold at auction this season is now 17.7% less than in 2018/19.

It was a better week in the market this week, but not enough to make up for the falls of the previous week.  The AWEX MPGs from 16.5 to 18.0 micron all moved up, while those from 19.5 to 22.0 microns moved down by similar percentages.  Crossbred MPGs also moved down, as did the AWEX Merino Cardings Index.

As mentioned above, the US Exchange Rate finished 3.60¢ (6.5%) higher to close at 59.31¢ on Thursday.

Buyers for China were even more dominant than usual, with the Indian and Italian industries under pressure due to COVID-19.

Looking ahead, offerings are currently expected to be 45,810 bales and 40,432 bales respectively in Weeks 40 and 41.  Week 42 (the week after Easter) is normally a non-sale week.  However, its status as a non-sale week, or whether it should be a sale week will be determined at a meeting of the National Auction Selling Committee (NASC) on Tuesday evening.

In other countries, sales have been shut down for at least three weeks in South Africa and for at least four weeks in New Zealand because of COVID-19.