Weekly Wool Prices

Week Ending 11 March (Week 37)

11 March 2016

A disappointing week for local sellers at Australian Wool auctions this week as price reductions occurred on all wool types on offer. The week was dominated by foreign exchange watching. The bull run of the Australian Dollar (AUD) continues unabated against all major currencies with a weakening of local prices the result. As the dollar strengthened, most exporter buyers took a backward step and were reticent to commit to purchases at auction or indeed put forward offers in foreign currency in front of the overseas buyers in fear of a swiftly moving forex rate going against them. By week’s end, 35ac/clean kg was reduced from the EMI (Eastern Market Indicator) which fell to 1223ac/clean kg.

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