“With this new vitality from buyers, the market initially soared to 15 / 20ac, then gradually rose throughout the day, and eventually the wool market all closed at its highest point. By the end of the year, some well-measured sales lots had achieved more than 70ac better than the previous day, “Australia Wool Innovation Limited (AWI) said in a commentary on sales in the 21st week of the current wool marketing season. Said.
The Eastern Market Index (EMI) was 1.3% or 17ac higher and the closing price was 1341ac / cleankg. Western Market Indicator (WMI) moved forward with a margin of 8ac in a week and finished at 1401ac / cleankg. The Australian dollar (AUD) exchange rate was again weaker than the US dollar (USD) and helped curb the rise of most user currency options. USD EMI rose 4usc and closed at 967usc / cleankg.
At the latest Australian wool auctions, seasonal fluctuations in wool prices continued weekly as well as weekly. On the first day of sales, the price dropped due to the atmosphere of the sales room where I was not confident. However, the song turned into overwhelming conviction as buyers attacked the auction from the first lot on Wednesday.
China’s greatest interest seemed to again guide the buying list and provide others with a guarantee to drive them into action. New businesses have been available since Tuesday, but traders remain vigilant, mainly indents and manufacturers completing most of the sales transactions, forcing price improvements as a result.
“It was difficult for exporters to extract a consistent business and convert it into profitable contracts, primarily due to the relatively large and unpredictable price fluctuations in Merino’s free slots. Explains that it is greater than the usual direct and indented buying activities from foreign profits. The whimsical nature of the retail industry at this time causes further uncertainty from the manufacturing industry to the retail industry and is just right. It leads to an in-time delivery spirit, “added AWI’s commentary.
Merino fleece and skirting boards were sold at 25-40ac in the east and 5-10ac in the west. Carding sold the 10ac dear and hybrids unchanged.
Next week’s wool auction will offer about 41,500 veils on Tuesdays and Wednesdays.
Fiber2Fashion News Desk (KD)
Australian wool prices skyrocket this week as buyers renew their vitality
Source link Australian wool prices skyrocket this week as buyers renew their vitality