Comment

The market seems to be in a holding pattern at the moment while the broader industry stops to absorb the market trend and, in particular, the level of price. Demand is no doubt more subdued from the spinners and weavers but the buyers, topmakers and trading companies are also well aware of the supply situation which is likely to deteriorate over the coming weeks. Most types and descriptions were a little easier but this was heavily influenced by the larger proportion of more inferior quality types available. The market movement was more pronounced in USD with the AWEX EMI easing by 1.8% in USD terms. This has a major influence on the mentality of our major wool trading partner, China, and will no doubt play some importance on their attitude towards buying over the coming weeks.