The firm US dollar-equivalent price levels signalled stable international demand, even as the Australian dollar strengthened against both the US dollar and Chinese yuan. Exporters noted that slight declines in local currency values helped maintain market equilibrium despite overseas buyers placing aggressive bids to meet inventory needs, the Australian Wool Innovation (AWI) said in its commentary for week 49 of the current wool marketing season.
However, low auction volumes limited purchasing activity, as local exporters and processors avoided pushing prices beyond global benchmarks. The reduced quantity and variable quality of wool, particularly for better types, have complicated bulk sourcing, with drought conditions continuing to impact many regions. Some rain has been recorded, and more is forecast.
Next week, around 30,000 bales will be offered across all centres, with auctions scheduled for Wednesday and Thursday.
ALCHEMPro News Desk (KD)
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