The Australian wool market resumes this week following the winter recess, with sales scheduled in Melbourne and Fremantle, industry analysts said on Monday.
This week, 55,900 bales will be offered for sale nationally, with prices expected to remain relatively firm, with a good selection of good to best top-making styles on offer in Melbourne and Fremantle.
There is no sale in Sydney this week; auctions resume there next week.
Prior to the recess, the market fell slightly, with the AWEX Eastern Market Indicator losing two cents to 799 cents a kg clean, following several weeks of small losses.
The value of the Australian dollar is again expected to affect movements in wool prices, wool-broker Landmark said.
The Australian dollar was sitting at 70.00 US cents on Monday, slightly lower than before the recess in mid-July, when it hovered above the 72 US cent level.
Plummeting US cotton prices could also affect buyer demand as consumers further down the wool pipeline could be tempted to substitute for cheaper textiles.
"With cotton prices falling to a 20-month low in the United States, be aware that this will directly impact wool prices," Landmark said.
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