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Eastern wool indicator stable despite fall in western counterpart
07
Aug '08
Wool sale held on August 6 in Sydney, Melbourne and Fremantle indicated towards an unchanged eastern market at 843c/kg despite a 22c/kg fall in the western indicator.

The western indicator took a plunge by 22c/kg on the opening day after the markets reopened from its holidays, to settle at 818c/kg while the markets in north dropped 1c/kg to reach 880c/kg. The south however, had a different story to tell, a slight gain of 1c/kg was witnessed which closed at 813c/kg.

A total of 20,967 bales were offered from all the three zones, besides which 22,594 bales will be put up for auction today.

Wool market across the globe is going through constant fluctuation because of various reasons including reduction in sheep, impact of banning mulesing, dampened demand and moving out of important exporters from the market. However, experts believe this to be a passing phase which may be followed by a steady growth of the wool industry.

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