AWEX wool price indicator hits 5.5 year high on supply concerns

AUSTRALIA’S main wool price indicator hit a 5.5-year high yesterday as demand spiked due to supply concerns among major buyers. The Australian Wool Exchange has reported that its Eastern Market Indicator reached 1413 cents on Wednesday, with the trade reporting strong demand from China, Europe and India for quality Merino wools. Australian Wool Network auctioneer Kelvin Shelley said the market this week was one of the best he had sold into in a ‘long, long time”. He said AWN held a tender sale of more than 2000 bales after the last AWEX auction sale just before Christmas last year, providing…

Source: Sheep Central
AWEX wool price indicator hits 5.5 year high on supply concerns