Australian Wool auctions this week displayed remarkable resilience to lift a few cents in the face of an increasing value of the Australian dollar against most of our trading currencies. For a few consecutive weeks of selling, the forex rate trend has been hampering price levels. Negative market direction has been the ruling sentiment, but this week saw signs of a reversal of that trend, albeit by just a few cents in AUD terms. Most sectors managed to post small gains, and by the end of the week, the EMI (Eastern Market Indicator) had clawed it’s way up by 2ac each day for a 4ac weekly gain to conclude at a level of 1227ac/clean kg.
Click here to access AWI's Wool Weekly Market Report (PDF 734KB)