Early autumn catalogue clips market
Autumn wools, with reduced quantities of best style and increasing vegetable matter content, brought the market to its third consecutive loss.
The Australian Wool Exchange said the 19 cent drop in last week's sale was similar to the previous week's cumulative fall of 18 cents.
"The selection was indicative of an early autumn catalogue, with wool quality suffering from abnormally dry conditions," an AWEX spokesman said.
"Buyers struggled to absorb the larger volumes of these lower spec types, which were hardest hit by the sluggish market."
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At the Western Wool Centre, a 113-bale consignment from Cadogan Estate, Williams, sold well relative to the market.
Cadogan general manager Tim Johnston said the February-shorn Snaigow clip was only a portion of the annual harvest.
Mr Johnston said the overall micron and quality was consistent with the productive growing season.
"We were pleased with the quality of the wool and how it sold in today's market," he said.
Mr Johnston was optimistic that with the rebound in the US economy, the medium to long-term outlook for wool was promising.
Wool Agency's Andrew Johnston said the wool market had been weak due to the tightening of credit, restricting the amount wool importers and processors could hold.
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