AWEX wool indicator closes 4% lower last week

Buyers for China were dominant this week, followed by strong support from buyers for Europe, India and Korea.

Sales will be held in Sydney and Melbourne only next week, when 38,230 bales are currently rostered for sale.  Present estimates for the following two sales (Weeks 09 and 10) are 40,340 and 46,000 bales, respectively; an increase of 8.7% over the three sale period when compared with last year.

The New Zealand Merino Company is rostered to offer 450 bales in Melbourne next week and 1,500 bales in Week 10.

In South African sales, the Cape Wools Indicator was down by 7.2% since the sale in early June against a 2.5% appreciation of the Rand against the US Dollar and a 4.0% appreciation against the Euro.  12,778 bales were on offer.

Australian Wool Industries Secretariat Inc (AWIS)