Stronger dollar, price resistance pulls back still strong wool market

By Bruce McLeish, Elders Northern Wool Manager
Updated July 4 2017 - 7:55am, first published July 2 2017 - 11:39am
EIGHT MONTHS: One of the lines of wool from Willie and Marcelle Chandler's Isisford property Oma that sold in Sydney last week. The 16 bales of 59mm 20.4 micron AAAM tested 1 per cent vegetable matter, 73.2pc yield, and 66NKT and sold for 1140c/kg greasy.
EIGHT MONTHS: One of the lines of wool from Willie and Marcelle Chandler's Isisford property Oma that sold in Sydney last week. The 16 bales of 59mm 20.4 micron AAAM tested 1 per cent vegetable matter, 73.2pc yield, and 66NKT and sold for 1140c/kg greasy.

THE combination of a stronger dollar and price resistance from overseas forced the market to slip back a little this week. As expected the market was around 30c cheaper (AWEX’s eastern market indicator closed on 1507c, down 26c), although the movement in US dollar terms was far less with a drop of only 4c leaving the market still facing some price resistance in overseas markets.

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