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Wool Season Comes to Uncertain Close

29 June 2015

AUSTRALIA – Wool auctions ended the fiscal and wool year under “a cloud of uncertainty” last week.

A “staggering” 38 per cent more wool reached the market, resulting in values declining at an “alarming rate”, reported Australian Wool Innovation.

Prices remain high despite seeing a 4.32 per cent reduction overall.

The Eastern Market Indicator concluded the week at 1263 aus cents per clean kilo, remaining attractive for all participants at 24 per cent above last year’s close.

Vendors saw average returns for the season increase three per cent at an average EMI for the year of 1099 cents.

Analysts are expecting a 21 per cent increase in wool issued next week, which is around A$33 million.

TheSheepSite News Desk



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