Increased Wool Offerings Impact Price
March 24, 2017
Medium Merino wool prices started to slip this week as recent record auction rates boosted bale offerings. However, fine wool continued to appreciate in value while the micron price guides for 20-22 micron wool fell 18-30 cents this week.
The Australian Wool Exchange Eastern Market Indicator finished firm at 1546c/kg clean. The Australian- to U.S.-dollar exchange rate was US76.57 cents and the EMI, in U.S. dollars, was down four cents to US1184 cents.
AWEX Senior Market Analyst Lionel Plunkett said the increase in quantity might have contributed to the eventual fall in prices this week as buyers became more selective in their purchases. Prices for lesser types showed irregularity and despite the rise in the EMI, the market indicators for 21 micron and coarser fell by an average of more than 10 cents.