AUSTRALIAN wool prices faltered this week as buyer interest in superfine wool waned, according to Landmark wool technical officer Phillip Lipscombe.
MERINO wool auction price trends varied across Australia this week; falling in Melbourne, while rising in Fremantle and holding relatively firm in Sydney.
WOOLTRADE experienced limited buyer activity last week as the auction market continued to fluctuate.
MERINO wool prices dropped on average this week as buyers came to terms with fleece with high vegetable matter content and more prematurely shorn clips in a smaller offering.
WOOL prices rose this week for smaller auction offering, reflecting a restocking of the supply chain, Australian Wool Innovation said.
AUSTRALIAN wool prices closed generally lower in most sale centres this week, despite buyer confidence improving as sales progressed.
AUSTRALIAN wool prices rebounded this week, with medium and broad Merino wool lifting by up to 130 cents a kilogram. Landmark wool supply manager David Brook said it was a stunning reversal on the auction markets.
AUSTRALIAN wool prices experienced a dramatic correction again this week, with most Merino types losing 50-100 cents, although a positive trend emerged in later sales.
WOOL has been the strongest performing commodity in agriculture since February this year, as Australian agricultural markets start 2017 in broadly stable territory according to the March Rural Commodities Wrap from NAB Agribusiness.
AUSTRALIAN wool growers have reacted strongly to a fall in prices this week, with more than 20 percent of fleece lines passed in at the Western Australian auction centre.