WOOL MARKET COLLAPSE IN AUSTRALIA
At last week#39;s trading on the wool market in Australia fell to a record low in the past five years, the rate of the South of Market fell 11 cents and stopped at 713.
Index decreased despite the availability of offers at 35,000 bales. Market analyst Mike Crooks says that on Wednesday, when will resume trading will start another tough week for the market, reports ABC Rural.
We have 14,800 bales for Sydney, 24,800 bales for Melbourne and 14,300 bales for Fremantle, only about 54,000 bales. Last week, we could offer only 35,000, so that the wool market will add another 20,000 this week and it will be interesting to see what#39;s over, - said Crooks.
