WOOL prices increased by 11c/kg at Australian auction sales with the Australian Wool Exchange Eastern Marketing Indicator closing at 1309c.
Subscribe now for unlimited access.
$0/
(min cost $0)
or signup to continue reading
Moses and Son principal, Marty Moses of Temora said the market was aided by a small offering of 29,543 bales as Fremantle sat out this week and the 1c fall in the Australian dollar exchange rate also helped.
“The market opened somewhat cautiously on Tuesday, however the buyer sentiment improved steadily over the two day sale, with a noticeable strong final few hours on Wednesdays closing,” he said.
“The Merino fleece sector performed well with the best performing sector the 18-23µ in the northern region and all sectors in the southern region showed good increases as they struggled to align with the growing premium in northern markets,” he said.
Meanwhile the Merino skirtings category posted solid gains of 10 to 20c/kg with the best style and low vegetable matter types attracting bullish competition while the crossbred sector lapped up the lower AUD increasing up to 25c for the week.