Australian Wool Prices at record level!

Recent sales of wool in Australia have reached all time record levels. All wool is sold in Australia by auction. Prices paid by buyers from around the world have been escalating over the last while to new levels.

 "Strong price gains were achieved for most of the wool on offer as the market defied the unexpectedly stronger AUD against most of the major trading currencies. The super fine Merino segment was a standout once more as common gains of 100australian cents clean /kg were registered. By the close of selling the AWEX Eastern Market Indicator (EMI) broke new ground once more to escalate to 1546ac clean /kg, a 24ac gain for the week. Greater gains were achieved In USD terms, with the EMI racing 43usc higher to 1187usc clean /kg."

Australian Wool Innovation Limited: March 17, 2017

This can only mean that the price of wool products will have to increase in the near future. Prices of Down-Under Wool products will most likely increase in the near future as a result of this competitive demand for fine wool.