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Australian Wool Prices off Record Highs as Demand Falls -- Market Talk

28 Aug 2017 3:33 am

0333 GMT - Australian wool prices have come off record highs, "as the market finally hit a price point where the price hurt" near-term demand, says farming body Australian Wool Innovation. It adds that demand from China had also dried up over the week as "buyers approached the sales with extreme caution, and as soon as weakness became the trend, most buyers retreated steadily." The AWEX Eastern Market Indicator, the global wool benchmark, fell A$0.42 a kilogram to A$15.72 a kilogram Friday. (lucy.craymer@wsj.com; @lucy_craymer)
 

(END) Dow Jones Newswires

August 27, 2017 23:33 ET (03:33 GMT)

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