Wool auctions in Australia this week were conducted under the atmosphere of a very cautious buying attitude by the sale room operators. Although volumes were down from the previous week, the growing number of hard to place weaker strength, higher POBm (position of break in the middle) sale lots ensured that competition was very subdued and all buyers were very measured in their approach to the inventory that they took on board.
A loss of 11acents clean/kg on the AWEX EMI (Eastern Market Indicator) was the result by the end of the week. There were some positive signs within the finer categories though, as the better strength types continued to extend the premium above the lesser descriptions of corresponding micron.
Click here to access AWI's Wool Market Weekly Report (pdf 468Kb).