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Wool Prices Slip Again

28 September 2015

AUSTRALIA – Wool markets softened further last week after exhibiting some “signs of life”, according to Australia’s industry board.

Australian Wool Innovation has reported “positive signals” coming from China and India, as well as some positivity from Europe, and an Eastern Market Indicator closing at 1228 ac/clean kilo, a minor loss of 6 cents per kilo.

Prices remained stable through the week, with a similar scenario forecast for the 42,000 scheduled bales for this week.

A spokesperson said orders form the sub-continent and China, if forthcoming, would be positive.

Sliding Australian currency will continued to support those using US dollars to buy wool, the spokesperson added.

“Merino fleece opened the sales at levels of 5 to 10ac/clean kg lower and traded through most of the week at the lower levels,” said AWI. “A late rally on the final day saw prices recover somewhat, as much stronger and more widespread competition was in evidence.

“Similarly to last week, the sentiment is gradually improving as exporters build more sales into their forward order books, and indent operators return slowly to buying.”

TheSheepSite News Desk