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 Wool prices continue their two week slide 

Wool prices continue their two week slide

28/08/2008 6:07:00 PM
Wool’s eastern market indicator (EMI) eased by 2c/kg when sales resumed over two-days this week starting on Wednesday.

This downward trend continues wool's price slide during sales in the previous two weeks.

In Sydney, the northern indicator fell by 3c/kg, to 887c/kg, on the opening day.

AWEX says Merino fleece wools there, continued to drift lower, with most microns down by another 5 to 10c/kg.

The 19 to 20 micron indicators closed par to 5c/kg easier, with the 20.5 to 21.5 microns 10c/kg down and 22 microns and coarser on limited number 5c/kg cheaper.

In Melbourne, the southern indicator fell by 2c/kg, to 819c/kg.

Merino fleeces 18.5 microns and finer edged higher, with buyers showing particular interest in the 17.5 micron best style wools.

But the 19 to 21.5 micron wools eased a little, with 20 microns most affected.

The 22 microns and coarser sold unchanged on a very limited offering.

On Wednesday, 1300 bales of New Zealand Merino wool were offered, but 41pc of the offering was passed-in.

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