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Volatility Continues in Australian Wool Market

15 September 2015

AUSTRALIA – Gains made by Australian wool traders from strong uplift early last week were “practically eliminated” by the final day of selling.

This left the Eastern Market Indicator at 1260, a week on week rise of two cents, according to Australia Wool Innovation’s (AWI) weekly update.

“Within the merino fleece sector it was pleasing to note the strong competition on the better tested wools finer than 19 micron,” said an AWI spokesperson.

“A good offering drawn from the New England district of New South Wales came under close scrutiny from buyers representing various destinations.”

This week brings another 40,000 bales to market as the Nanging Wool Market Trade Conference takes place, shedding light on short-term prospects.

The AWI said further orders will be required to arrest the volatile trend.

TheSheepSite News Desk



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