The Australian wool market lost a little ground this week, and while sentiment was negative at the start of the week, some positive signals emerged as the week progressed, although mostly for the non-Merino types. Exporters were able to extract good new business on the crossbred fleece and skirtings types from their clients, as well as obtaining some new sales in the shorter knitwear types. Whilst the merino fleece enquiry was shallow, some small pockets of new contracts were written - at prices not quite up to the market level, but new sales nonetheless. This gave a much needed boost to the local buyer’s confidence, and a mechanism to cash in some of their position and bolster the finance needed to participate more actively in the sale rooms.
Click here to access AWI's Wool Market Weekly Report (pdf 1002Kb).