Wool prices fall after successive highs

Marty Moses

Marty Moses

WOOL prices dropped by 16c/kg at Australian auction sales with the eastern market indicator closing at 2011c.

In what was the smallest offering of the season (26,942 bales) the market struggled to maintain the accrued rises.

Moses and Son principal Marty Moses said Merino fleece from 17-20 μ recorded losses ranging from 2c to 55c, while the 21 and 22 MPG’s in the northern region posted 15c rises in conflict with the finer fleece market.