Weekly Wool Prices

Week Ending 19 August (Week 7)

19 August 2016

The relatively stable Australian dollar exchange rates set the steady tone at this week’s Australian wool auction sales. The USD v AUD generally traded in a very narrow 0.4 ac range throughout selling, enabling more consistent pricing. Sale results largely met the pre sale expectations of a firm unchanged market. Whilst buying interest was subdued and slightly cheaper on the first day of selling, competition appeared to gain momentum as the week progressed and closed strongly, albeit with a strange lull right at the close of selling as the dollar momentarily spiked to 77.50. The EMI (Eastern Market Indicator) gained 1ac to conclude the selling week at 1298ac/clean kg. When expressed in USD, the EMI gained 2usc to 1001usc/clean kg.

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