Lower volumes see wool market continue to strengthen

By Bruce McLeish, Elders Northern Wool Manager
Updated October 24 2016 - 8:22am, first published 7:47am
AUCTION DEMAND: The wool market continued to strengthen in the past the week despite the rising Australian dollar.
AUCTION DEMAND: The wool market continued to strengthen in the past the week despite the rising Australian dollar.

THE Australian wool market continued to strengthen in the past the week as lower volumes at sales forced buyers to increase activity to feed early stage processing machinery. Prices rose despite the stronger local currency with the Australian dollar increasing from its low of US75.85c early last week to a high of US77.25c on Wednesday night. Consequently the EMI rose by 13c in local terms, but a significantly higher 29c in US dollar.

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