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 Wool prices open firm, holding last week's 3.2pc gain 

Wool prices open firm, holding last week's 3.2pc gain

20/08/2008 3:21:00 PM
This week's wool market has opened on Tuesday with prices holding fully firm on last week's, maintaining all of last week's 3.2pc lift in the eastern market indicator (EMI).

The sharp lift in wool prices last week was spurred by the sudden fall in value of the $A, putting new life into the market after a lack lustre start to the 2008-09 wool selling season, in July-August.

On Tuesday, Newcastle was the only centre selling.

Its northern indicator closed unchanged on last week's 904c/kg, at Sydney's auctions.

As a result of Newscastle's opening day on Tuesday, this week, the nominal eastern market indicator (EMI) remains unchanged, too.

Sales continue in Newcastle, with its specialist fine wool offering, and in Melbourne and Fremantle on Wednesday.

Last week, the EMI closed on 873c/kg.

All regional indicators rose sharply last week, to close on:

• Northern, 904c/kg.

• Southern, 848c/kg.

• Western, 844c/kg.

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Q: Do you believe the public has a right to know on which farms GM crops are being grown?

Yes
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Undecided
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Total Votes: 613
Poll Date: 17/08/2008

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