Strong demand holds Australian wool prices amid drought impacts
Australian wool auctions saw Merino prices dip 10 cents while crossbred types rose by the same margin. With Fremantle absent, volumes dropped below 23,000 bales, though clearance rates topped 90 per cent. Despite a stronger Australian dollar, US dollar-equivalent values stayed firm, reflecting steady global demand. Low supply and mixed quality constrained buying.
Australian wool auctions saw Merino prices dip 10 cents while crossbred types rose by the same margin.
With Fremantle absent, volumes dropped below 23,000 bales, though clearance rates topped 90 per cent.
Despite a stronger Australian dollar, US dollar-equivalent values stayed firm, reflecting steady global demand.
Low supply and mixed quality constrained buying.
