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More Buying Interests Ignites Australian Wool

17 March 2015

AUSTRALIA – Wool markets recovered last week lifting seven cents after greater interest from Chinese buyers.

A “resurgent” trade afforded “handy gains” across most products, says the Australian Wool Innovation (AWI) with the Eastern Market Indicator at 1092 ac/clean kilo.

“The renewed buying interest came mainly from our three largest forward selling exporters, but strong support also came from the Chinese-represented indent buyers,” said AWI.

“More manageable quantities of around the 43,000 bales combined with the ever weakening Australian dollar against the US dollar to assist the reversal of the drift downwards of the past month.”

More strong trade is expected next week with around 45,000 bales scheduled for sale, added the AWI.

 

TheSheepSite News Desk



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