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 Wool market bounces 17c/kg 

Wool market bounces 17c/kg

12 Jun, 2008 12:07 PM
The eastern market indicator (EMI) bounced 17c/kg higher - or 2pc - at wool sales yesterday to sit at 862c/kg (clean).

According to AWEX, a combination of a weaker Australian dollar - now below US95c - and smaller offerings has helped to revive the growers' fortunes, with many types as much as 30c/kg dearer.

As a result the northern indicator closed 17c/kg higher than last Thursday's close to stand at 904c/kg overnight; the southern indicator was up 18c/kg to be 828c/kg; and the western indicator rose 4c/kg to stand at 847c/kg.

Yesterday's sale was made up of 6013 bales in the north, with 482 passed in; 6573 in the south, with 685 passed in; and 6505 bales in the west, including 963 bales passed in.

A further 11,950 bales are catalogued for auction at sales in Sydney and Melbourne today.

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