After last weeks’ consolidation at Australian wool auctions, the market found itself on a cheapening trend by the close of selling for the week. This price retraction was evidenced across most of the offerings, with the carding sector the only segment to escape the down-turn. Large volumes on offer this week, and the next three, as well as substantial pressures on access to finance were the talk of the week. These factors were the predominant causes that set the market into reverse for the time being.
The AWEX EMI (Australian Wool Exchange - Eastern Market Indica-tor) peeled off 14ac clean/kg to close the sales at 1669ac clean/kg. When measured in USD, the market again went to the favour of USD users and dropped, albeit just 6usc clean/kg, to a week ending value of 1272 usc clean/kg.
Click here to access AWI's Wool Weekly Market Report (PDF 866 KB)