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Wool market inched up a bit

YarnsandFibers News Bureau 2014-02-03 16:17:00 – Australia

This week at auction sales in Australian wool market witnessed the AWEX EMI inching up another 4c to 1,132c although the market may have been aided by the weakening AUD against the US Dollar falling to 87 USc.

The 18 micron and finer fleece wool gained another 20c to 30c this week; however, the 19 micron fleece remained firm whilst coarser merino fleece failed to hold its previous levels especially on the final day.

The smaller 35,000 bale offering (due to the Australia Day public holiday) was met with some vigour from buyers on opening however some inferior types lost that advantage on the final day.

Crossbreds and carding types remained in keen demand, with both categories posting small rises and both sitting at historically high levels. Next week the offering will head back up to 46,000 bales, and will also coincide with the commencement of the Chinese New Year holiday period.

Given the closing market for Chinese types, the market may follow the trend of the last selling day of this week.

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