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Wool Prices Start 2015 Unchanged

09 January 2015

AUSTRALIA – Australian wool prices started 2015 where they left off before Christmas, report Australian analysts.

The Eastern Market Indicator closed unchanged today following a three week break after a single Melbourne sale on Tuesday precluded price stabilizing sales in Freemantle and Sydney on Wednesday.

The first sale week moved over 53,000 bales, with analysts expecting volumes to break 56,000 next week.

This is according to Australian Wool Innovation, which, in its weekly report, outlined imminent wool trading difficulties with the upcoming Chinese New Year.

The report stated: “Any wools shipped prompt over the next few weeks will land at China whilst the shutdown is on and some buyers may put off their buying for a week or so to avoid demurrage charges of having containers sitting on the wharf.”

 

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