The slide in price levels of the Merino sector continued this week across Australian wool auctions. The start of the series heard little positive news emerging from our buyers on the sales show floors. As the week progressed, confidence dwindled even further. Extracting fresh business became almost non existent on fleece Merino descriptions and sporadic at best on skirting and carding types. With mainly forward contract buying and some rather weak indents in the market it was somewhat inevitable that a price retraction would occur. Thankfully though, not all sectors are doom and gloom, as the local exporters were able to write more new business on the crossbred fleece and skirtings types, which basically held up the market at around unchanged levels in the segment.
Click here to access AWI's Wool Market Weekly Report (pdf 1001Kb).