Australian wool markets continued this week on the weakening trend initiated at the last series of auctions. In a seemingly very controlled fashion, the market drifted lower from the onset of selling and by the close, all sec-tions of the offering had had 20 to 30acents wiped from their values. Whilst the larger offerings over this week and the forecast volumes in the upcoming month has taken the pre-existent pressure off exporters, there remains a surprisingly upbeat positive view of the longer term market prospects. In fact, the last of the sales to conclude this week were in Fremantle where prices matched or bettered the eastern Australian closing quotes, with most of the offering there mainly coarser than 18.5 micron.
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