Wool prices have further dropped in Australia this week, although very slightly. A higher Aussie dollar and a further lack of quality fibers have depressed demand.
Wool prices have again declined this week in Australia, although very slightly.
The benchmark indicator has only lost 16 Aussie cents per kilo clean or 0.8%.
With the Australian dollar rising, the same EMI has gained 6 US cents or 0.4%, however down 7 euro cents or 0.04%.
The lack of demand has been due to the higher local currency but also to the poor quality of wool fibers from drought-affected areas.
The fall of production in volume terms is no more offsetting the decline of quality which could be worrying for Australian growers confronted with rising costs due to a persistent drought.
Source: Emergingtextiles
