The Australian Wool Exchange Eastern Market Indicator fell 7c to settle on 1044c at auction sales in Australia this week.
Subscribe now for unlimited access.
$0/
(min cost $0)
or signup to continue reading
With the largest rostered to hit the market in eight months, it seemed almost too predictable to what trend might eventuate, as the market followed the weak finish recorded in Fremantle last Thursday.
Pressure mounted on the lower style and strength wool with high mid point break types between 19-23 microns, the buyers still commenting that these types are hard to place in the current quantities on offer.
Conversely the superfine offering was met with increased vigour as the Italian influence was evident in Sydney, resulting in the 16.5-18 MPG’s posting 10-15c increases.
Losses of 5-10c were also experienced in the skirting and crossbreds types with cardings holding their previous levels.
With 48,824 bales are on offer for next weeks sale it will be a great test on the depth of the market orders.