A resurgent Australian wool auction market this week, with handy gains recorded across almost all of the types and descriptions on offer.
The renewed buying interest came mainly from our three largest forward selling exporters, but strong support also came from the Chinese-represented indent buyers. More manageable quantities of around the 43,000 bales combined with the ever weakening Australian dollar against the US dollar to assist the reversal of the drift downwards of the past month. As a result, 7ac/clean kg was added to the EMI (Eastern Market Indicator), to finish the week at 1092ac/clean kg.
Click here to access AWI's Wool Market Weekly Report (pdf 527Kb).