In complete contrast to the impressive gains of the previous week, Australian wool auction sales adjusted heavily downwards last week ending August 24. By the close of selling, the AWEX eastern market indicator (EMI) settled at 1572ac clean/kg, eliminating 42ac from the record level set in the previous week. The EMI in USD fell similarly by 40usc clean/kg.
Following two weeks of consecutive rises and seeing the EMI go into record territory, the market finally hit a price point where the price
During the trading session at cotton market, sustained buying from leading spinners helped cotton prices inch up on Wednesday. Spinners and mills remained quality conscious and made deals on slightly higher prices during the session while leading ginners sensing future demand of quality lint offered thin volumes of better stocks on higher prices to the buyers.
Much of the trading activity remained centered around Punjab variety which is now available in larger quantity due to higher flow of p
