Australian wool markets moved clearly back to the positive this week as auction prices were sensationally dearer. Within the Merino sector gains of well over 100ac clean kg were recorded as buyers hit the market strongly to cover off new and existing open positions. Crossbreds were well sought with just the card-ing segment losing out in an incredibly strong week, build-ing on top of the already historically high price levels.
The AWEX Eastern Market Indicator (EMI) climbed daily and concluded the selling week at 1512ac/clean kg, a gain of 53ac/clean kg for the week. With a weaker AUD v USD forex rate the move upwards was less intensive when the EMI is measured in USD but a still imposing 3% rise to 1134usc/clean kg was achieved in a stellar selling week.
Click here to access AWI's Wool Weekly Market Report (PDF 616 KB)