Australian wool auctions this week encountered upward price resistance after weeks of consecutive rises. With the speed and severity of the new levels of wool pricing, it was a result predicted by many exporters. The relatively minor retraction recorded for the week was also restricted generally to just the Merino fleece offering. The EMI (Eastern Market Indicator) drifted downward for the first time in several weeks to close at 1235ac/clean kg. This figure represents a staggering 21.1% year on year gain or 215ac clean kg compared to the same period of last season.
Click here to access AWI's Wool Market Weekly Report (1.12 MB).