The Australian wool market appeared to find a base this week, as some sense of stability returned to auctions. With available wool quantities down due to Fremantle not having enough wool to offer and the AUD strengthening significantly against the USD and Euro, most thoughts initially centred firmly around a cautious approach to any purchasing. Primarily, the price movements early in the week were all negative as levels decreased further in the Merino sector. Buyers were not convinced the basis for fresh trade had been met.
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