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Wool Highlights from 15-30, Jun 2009

Demand was low but the market was however supported by a seasonal low in offering while the Australian dollar unusually declined. The market held onto the gains made last week after three weeks of falling prices. The trade reports that there was good competition, particularly for the better types. There was some increased activity from Europe as well this time. The current estimated offerings for the next two weeks have fallen progressively since first notified to the trade, raising some concerns about supply in this period when meat and sheep prices are very high.

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