Following on from the recent outstanding gains in wool values, Australian wool markets generally consolidated around ruling price levels. The main competition in the Merino sector came again from the largest locally based trader/exporter fighting fiercely for volume against the largest Chinese indent buyer. This strength of purchasing saw over 36% of the available volume head into just these two company’s inventory. The crossbred lift unfortunately hit the wall this week and the huge gains of last week diminished throughout selling. Cardings performed admirably once more and advanced further skyward.
At the end of a rather eventful and mixed week of results, the AWEX EMI (Australian Wool Exchange - Eastern Market Indicator) managed a 2ac rise to 1683ac/clean kg. This figure represented a new weekly closing record after setting an all-time single day EMI number of 1689ac clean/kg on Wednesday. When measured in USD, the market went in favour of our overseas users for the first time in a few weeks and dropped 1% to 1278usc clean/kg.
Click here to access AWI's Wool Weekly Market Report (PDF 866 KB)