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Wool market follows South Africa in growing by 6.5%
14 Nov '08
4 min read
Buyers for China were dominant with support from those for India and some support from Europe. Sales will be held in Sydney, Melbourne and Fremantle next week, when 41,062 bales are currently rostered for sale. Present estimates for the following two sales are 47,510 and 49,400 bales, respectively. A decrease of 17.9% over the three sale period when compared with last year.
The New Zealand Merino Company will offer 3,200 bales in Melbourne next week. In South African sales, where 8,230 bales were on offer, the Cape Wools Indicator was up by 6.5% since last week against a 0.2% depreciation of the Rand against the US Dollar and a 2.2% appreciation against the Euro.
The New Zealand Merino Company will offer 3,200 bales in Melbourne next week. In South African sales, where 8,230 bales were on offer, the Cape Wools Indicator was up by 6.5% since last week against a 0.2% depreciation of the Rand against the US Dollar and a 2.2% appreciation against the Euro.
Australian Wool Innovation (AWI)
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