WOOL prices have continued a downward trend after a season of record highs.
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The Australian Wool Exchange Eastern Market Indicator closed for the week at 1751c/kg which was down 27c.
Moses and Son principal, Marty Moses of Temora said with the previous week’s losses of 52c still fresh in our minds, the trade were expecting the market to find a new level.
“However, with the offering containing a wide range of wool types, buyers entered the week somewhat cautiously being selective in their purchases,” he said.
Merino fleece types in the northern markets lost 35c to 65c as the eastern selling centre MPG’s achieved some alignment.
Mr Moses said crossbreds could not maintain the positive trend of the past three weeks, with prices 5c/kg to 20c/kg weaker across all types this week.
Once again, poorly prepared lines and unclassed and unskirted lots were the hardest hit.