Australian wool prices rise slightly this week

Date:

Australian Wool Eastern Market Indicator (EMI) finished at 1346ac / clean kg. This was a 5ac advance every week. Western Market Indicator (WMI) increased by 4ac to 1404ac / cleankg. The continued weak AUD (AUD) exchange rate against the US dollar (USD) has helped foreign users again, and USDEMI has reduced 2usc to 965usc / clean kg.

During the week, the AUD / USD rate was even lower, allowing buy-in levels cheaper than the USD closing price.

China’s first-tier manufacturers have maintained recent buying pressure and have had a strong impact on auction competition. This has forced traders and indent buyers to increase their ante within the amount obtained. New business opportunities for exporters were available, but very sporadic and limited in quantity-mainly what foreign buyers want and what sellers are ready to promise. Negotiations from both-and the highly price-sensitive Australian Wool Innovation Limited (AWI) mentioned in the commentary on sales in the 22nd week of the current wool marketing season.

Australian Wool Eastern Market Indicator (EMI) finished at 1346ac / clean kg. This was a 5ac advance every week. Western Market Indicator (WMI) increased by 4ac to 1404ac / cleankg. The continued weak AUD (AUD) exchange rate against the US dollar (USD) has helped foreign users again, and USDEMI has reduced 2usc to 965usc / clean kg.

“Current ongoing issues with international logistics have contributed significantly to the performance of the current market. Shipments are unpredictable at best. Reserved vessels arrive and depart, are delayed, or arrive at all. Container access and port delays also play a negative role. Combining these issues with the three-week Christmas holidays makes local auction buyers’ commercial decisions even more difficult. It increases the risk, “added AWI’s commentary.

Merino fleece pricing is ultra-fine ( 20 mic) Wool is stronger than 15ac. The skirting boards sold to the seller were favorable, the skirting boards were strong, and the hybrids were sold 5ac lower.

Next week’s wool auction will offer about 41,000 veils on Tuesdays and Wednesdays.

Fiber2Fashion News Desk (KD)

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Australian wool prices rise slightly this week

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