AU Wool Prices Hold Firm
August 19, 2016

Wool prices mostly held firm this week despite a softer opening. The Australian Wool Exchange Eastern Market Indicator finished up 1 cent to 1298 cents/kg clean. The EMI in U.S. dollar-terms also lifted 1 cent to US1001 cents clean.

Australian Wool Innovation's weekly market report said the relatively stale Australian dollar exchange rates set the steady tone at this week's wool auction sales, enabling more consistent pricing by buyers.

"While 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 the selling as the (Australian) dollar momentarily spiked to US77.50 cents," said AWEX Senior Market Analyst Lionel Plunkett.

AWI said a stronger market is expected next week.

Reprinted in part from Sheep Central