Australian Wool auctions recommenced after a short one week recess to hugely positive movements in wool values. All of the Merino fleece sector was under extreme demand pressure from the opening lot of selling at Sydney on Tuesday. All major buying destinations were heavily active and represented in the market forcing general rises of around 40 to 70ac/clean kg within these types. Other wool type segments were less affected, as competition centred around the finer and longer wools suitable for the woven sector. As a result, by the end of the weeks trading, the EMI (Eastern Market Indicator) had risen an impressive 31ac clean kg to 1270ac/clean kg or a 2.5% weekly gain.
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