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Australia Wool Prices Fall Further But Find Feet

07 July 2015

AUSTRALIA – Merino fleeces lost 25 cents last week as the wool market continued to post “more orderly” losses.

Crossbred fleece saw a similar dip, pushing the Eastern Market Indicator 32 cents per clean kilo down, report analysts at Australia Wool Innovation (AWI).

This left EMI at 1232 cents per kilo, although traders were spared the erratic price falls of the previous week, “raising hopes that the current rates are at more favourable levels for overseas users and thus more confidence was being found from the auction room buyers.”

Next week’s final sale before a three week break is expecting 42,000 bales at three selling centres.

An AWI analyst said: “Hopefully the better signals seen at the close of this week continues, and all buyers will have enough outstanding and new orders to fill, and we see the wool market head to a break in a positive direction.”

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