Australian wool auction sales opened on a weak note at the commencement of this selling week. Merino fleece, skirting and carding types were all under pressure from the outset and prices suffered accordingly. The lowest volume sales seen for many years failed to spark any interest, and just 23,500 bales were put before the trade at auction.
Only the two Eastern centres sold, with the Fremantle market having a rostered week off selling. Quite often these small sales are treated with care by overseas and local buyers, as strong orders can push the price away from their ideal buy in levels, for not much quantity being able to be covered. As such, the market generally behaved to buyer expectations.
Click here to access AWI's Wool Market Weekly Report (pdf 794Kb).