Market holds steady despite large offering

By Bruce McLeish, Elders
Updated November 1 2016 - 4:45pm, first published 4:35pm
In coming weeks growers in Australia will be at the mercy of the currency markets as has been the case for the past 12 months or so.
In coming weeks growers in Australia will be at the mercy of the currency markets as has been the case for the past 12 months or so.

Despite an increase of 10,000 bales being offered the market saw little change in prices this week. In USD minus 6, in Euro no change, and in AUD also zero change for the EMI over both selling days. Overall a good result given the reasonably large offering, and also with nearly 50,000 bales to be offered next week as the wool held up due to wet weather finds its way to store.

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