A rather uneventful week at Australian wool auction sales with most types on offer trading at similar levels. Some positive movements in limited sectors of the Merino fleece and across all carding wools occurred, while most of the crossbred segment registered some minor falls.
The stronger Australian dollar against all of the major trading currencies failed to dampen the enthusiasm of a limited number of buyers locally, as the two largest buyers attacked the offering and purchased almost 30% of the national offering between them. Overseas interest in new business was dull early in the week and waned further somewhat as the dollar rose, but as the market refused to yield, sporadic fresh interest in forward purchasing began to emerge. The EMI (Eastern Market Indicator) eased slightly by 3ac/clean kg for the week to finish the series at 1246ac/clean kg, with the strongest competition in the Merino sector in the latter part of the sale series.