Early selling sees softer result
AN EARLIER selling schedule saw no boost to the wool market last week. The Eastern Market Indicator fell 54c/kg to close at 2013c/kg clean.
Melbourne started the selling week on Tuesday in anticipation of the AFL Grand Final public holiday, leading falls of up to 56c/kg across all micron indicators.
The market continued to give up ground throughout the week, with the superfine micron range taking the biggest hit nationally.
In the south, the 16 and 17 micron indicators dropped 67c/kg and 71c/kg, respectively, as buyers were not prepared to pay premiums for well-measured wool.
In the north, the 18 micron-indicator had the largest decline of 75c/kg to land at 2615c/kg and in the west, the 19-micron indicator fell 77c/kg to 2322c/kg.
Elders district wool manager Elliot Lindley said the market was softer overall because of a repeated rise in the Australian dollar.
“China backed off a bit, leaving fewer inquiring in the superfine range,” he said.
COOLING MARKET: Prices for superfine wool took the biggest hit last week, with Chinese buyers deterred by a steadily rising Australian dollar