Another Steady Week in AU Wool Market
May 27, 2016

Australian wool prices improved further this week, helped by lower offerings and fresh demand. The Australian Wool Exchange Eastern Market Indicator lifted 4 cents in U.S. dollar terms to US945 cents with the Australian-US dollar exchange rate at 72.10 cents.

The EMI firmed 6 cents during the two-days selling week. The EMI is now only 3 cents shy of the 1300 cent level (1297 cents) and is at its highest level in 9 months.

This week's purchasing was dominated by Australia's largest traders and forward buyers. The Chinese indent operators showed high interest and provided stiff competition, covering off sales and adding inventory to their accounts.