A FURTHER correction in Australian wool prices this week has been attributed to strong buying earlier in the season, currency exchange rates and current offering quality.
AUSTRALIA’S proposed Wool Exchange Portal has hit a major obstacle after failing to negotiate agreement on industry data access and ownership proposals with the Australian Wool Exchange.
AUCTIONSPLUS had restricted but consistent online enquiry for wool last week and market operations supervisor Tom Rookyard said with the physical wool market holding mostly firm, finer types attracted buyer interest.
PRICES for wool under 19 micron dipped on Australia’s eastern states’ auction floors this week and the benchmark AWEX Eastern Market Indicator closing slightly lower.
AUSTRALIAN wool prices continued their downward trend at auctions earlier this week, but improved on the last day of sales.
AUSTRALIAN wool growers and brokers reacted strongly to the dramatic market correction this week, passing in 14 percent of the auction offering.
AUSTRALIA’S wool price benchmark has broken through 1600c/kg clean for the first time as Chinese buyers switch from “hand-to-mouth” to forward buying.
THE wool forward market opened with renewed interest from the bid side this week, with an offer sweep across the board ahead of the auction opening.
ONLINE wool sales resumed last week, with the resumption of the physical market and AuctionsPlus sold more than 900 bales before this week’s auctions started.
WOOL prices rose despite a bigger offering in auction centres across Australia this week.