The extraordinary behaviour of the Australian wool market auctions continued again this week with prices appreciating substantially across all wool types and descriptions. Light new business followed last week's surge of interest from the overseas customers. The fragile nature of the supply versus demand equation has now kicked-in heavily in the favour of sellers with low volumes at auctions and grower resistance to the price being offered. Of most interest to buyers was to gain some inventory to cover outstanding positions and stock to create potential new business, thus making the price being paid somewhat of a secondary thought.
Click here to access AWI's Wool Market Weekly Report (pdf 1001Kb).