AUSTRALIAN growers held back more wool this week as unfavourable currency rates affected Chinese demand, sending auction prices generally 50-90 cents lower.
ONLINE wool sales have dried up as fewer lines are passed in at Australia’s booming physical sale-by-sample auctions.
WOOL officially became a $20 a kilogram fibre in Western Australia this week with the state auction market’s indicator lifting 66 cents to an historic 2018c/kg clean.
GROWING fears about future supplies and a weakening Australian dollar helped lift wool prices to historic levels at auctions this week.
WOOL auction price rises triggered better volumes in the forward market this week, with trades made through to June 2019.
FINE Merino wool prices improved in Australian auctions this week, but crossbred fleece values declined further.
CHINA’S wool industry focus on productivity, quality and export growth rather than raw wool prices, has encouraged Australian representatives at the recent Nanjing Wool Market conference in Tongxiang.
WOOL prices steadied at auctions this this week, despite some discounts for some tender lines, indicating trade satisfaction with current price levels.
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.
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.