Australian wool auctions seem to have now broken the oscillating trend of the past year, with another week of strong progressive gains. Wool prices have seemingly settled into more economically charted patterns, with supply, demand and currency movements being the main ingredients for the more predictable market direction. A major factor for this change is surely the stronger competition to China buyers in the sale rooms from other buying destinations such as India, Italy, and other European users. As such the Chinese buyers are now taking under 70% of our clip, a figure that has not been as low for a few years now.
Click here to access AWI's Wool Market Weekly Report (pdf 1040Kb).