Wool market rallies after Chinese stimulus package

The wool market has seen its most significant rise in several months. The AWEX EMI (Eastern Market Indicator) rose this week by 34c to close off at 1139c. This renewed market confidence is directly a result of the Chinese Government stimulus package. The Chinese government cut the amount of cash that banks must hold as reserves, freeing up cash for lending; lowered the minimum mortgage down-payment ratio to 15%, from current 25%, and the government guided commercial banks to reduce the interest rates on existing mortgages by 0.50 percentage points.

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Welcome to Tom's Market Muster, a weekly whip around livestock market news.
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According to a new report, despite the significant ease in livestock prices, the industry remained resilient in the face of this instability thanks to strong demand across a diversifying export market and strength in the processing sector.
Angus Brown looks at the increasing lamb slaughter rates and how this can happen without punishing prices.
Long-term structural issues may emerge for the sheep sector if the WA sheep flock continues to decline. And the largest breeding ewe flock in recent history is expected to drive higher mutton turnoff in spring 2024.

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