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wool shortages lead to higher prices in June

Author : wool shortages lead to higher prices in June Date : 2013-7-14 21:26:27
U.S. June consumer confidence reached its highest level in more than five years, the data show that the United States seems to be gaining momentum, the economy began to get rid of the weak. Eurozone June composite purchasing managers index (pmi) than the Central rose 1.2, the decline rate is the smallest since March last year, to some extent, indicates that the euro zone economy in the next few months may be re-entered the expansion zone. China into a "money shortage" crisis, leading to a lack of funds for SMEs more difficult to run, "complained sound" more and more intense, and strengthen the people to China this year may be difficult to achieve the target of 7.5% of gdp growth concerns.

Supply shortages International Wool prices

Australian wool market in June approaching final, the Australian market supply two years of consecutive record lows. Merino wool woolen received by the market with six consecutive week of gains, gains accumulated over 100 ¢, and can be seen woolen market booming. Now start fine yarn hair slightly, but far from 22 micron to 24 micron merino, the data show 23 micron wool guidance (awex mpg) even higher than 19.5 microns. From the point of view of foreign quote, t56 price in U.S. dollars has more than t55.

June Australian dollar suffered heavy losses or inability to regain lost ground chain. Concerns about China's economic slowdown weighed on Australian dollars, at the same time, the U.S. dollar because the Fed hinted prepared remarks was cut qe3 scale support, a combination of both together for AUD / USD modulation in a lethal cocktail. In addition, plus the Australian mining industry as well as the threat of bottoming or resulting RBA more dovish stance, the Australian dollar against the U.S. dollar after touching 0.9274, the lowest since September 2010.

June Australian wool market for the supply of 117,588 bags, traded 108,940 bags, turnover rate was 92.6%.

New Zealand South Island of New Zealand wool market because wet weather delayed shearing and other reasons, to cancel an auction, has sparked concerns about the future supply of wool, prompting June market prices generally rose. From the sub-index of prices of all varieties of view, ring or larger than the end of May, but still charged wool price index below a year ago.