Following the weeks recess in auction sales, Australian wool markets performed admirably this week despite the large volumes on offer. Merino types of all descriptions sold solidly and finished the week at similar levels whilst the crossbred and carding sectors sold to a dearer tone throughout. The AWEX (Australian Wool Exchange) EMI (Eastern Market indicator) gained 4ac to close at 1776ac per clean kg which is 264ac higher than a year ago. Despite all currencies used in wool trading appreciating by varying degrees between 0.7% and 1.2 % against the AUD (Australian dollar), the wool market bucked that usually negative causing reaction on AUD pricing locally and continued upward. By the close of auction selling the EMI when expressed in USD (US Dollars) was 1% dearer or plus 14usc at 1377usc per clean kg. This eliminated all the losses that occurred in the last sale pre-Easter in that currency.
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