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Australian Wool Markets Moving Higher

13 October 2014

AUSTRALIA – Australian wool prices rallied to a five months high last week, reports the Australian Wool Exchange.

Prices broke the 1,050 cent mark after daily increases of eight and five cents, capping a ‘mini rally’ over five selling days.

Most microns increased 10 to 15 cents, a net gain of 25 cents across a number of micro price guidelines.

Low specification product attracted the most promising trade, although low mid-break products managed healthy premiums.

Analysts at the Australian Wool Innovation Board said a rising market from the week before had been extended with some ‘handy’ price gains extracted from the market.

The analysts added: “Competition was strong from the outset of selling, with short covering by exporters leading the way.

“The rises were restricted to the Merino area of the market, with the Crossbred sector basically consolidating around their established levels.” 

TheSheepSite News Desk

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