The drift in the Australian wool markets continued this week across the auction centres and forward offer boards. The mystery surrounding the falling price levels extended into this week unabated, with the ability to extract new business almost impossible, as our largest customer stays on the sidelines. The disappointing sales result is a complete quandary to most industry participants, as falling production and significantly attractive price levels, particularly on Merino fleece, are failing to attract any interest in volume purchasing. All other sectors away from Merino fleece are being less affected and once again, only minor losses were recorded. Most likely these reductions occurred because of the weakness in the fleece sector.
Click here to access AWI's Wool Market Weekly Report (pdf 999Kb).