Comment

The market seems to be in a ‘hold and wait’ pattern. Many customers, not all, are convinced prices must fall during this period. The national buyers list is more evenly spread as buyers look for value to limit risk of any further correction. Crossbreds for example, the cheapest wool available, were dearer this week. But, like the whole supply chain, business must go on. The growers are more reluctant to sell in an easing trend and almost 12% of the original 37,000 bales were passed in. The end result was a small correction of just -0.8% in the AWEX EMI for the week. This is a better result than many would have anticipated.