Australian Wool Prices Fall in Short Week
August 25, 2017
The Australian Wool Market suffered corrections this week, following the dramatic rises experienced at the previous sale. There was an unusual selling pattern, with only Sydney and Melbourne offering on Tuesday and Wednesday, due to Fremantle having a one-week recess and to accommodate Wool Week activities scheduled for Thursday.
The tone of the market was again set from the opening lot, prices were quickly and heavily discounted. Generally, most types and descriptions across the entire merino spectrum traded at levels 30 to 50 cents below those achieved at the previous sale. The Eastern Market Indicator closed at 1572 cents, an overall loss of 42 cents for the week, the largest fall in more than four months.
The only shining light for the week, was stylish superfine wools (17.0 micron and finer) exhibiting excellent additional measurements, which sold at levels very close to those achieved at the previous sale.