Australian Wool is sold by auction. Raw Wool is sold by the bale.
Wool is classified as: FINE: 16.5-19.0 microns
MEDIUM: 19.5 -24.0 microns
CROSSBRED: 25.0 - 32.0 microns ( there are 1 000 000 microns in a metre)
Auctions are held in Sydney, Melbourne and Freemantle and results this week have shown a record level demand by Chinese and European buyers. This demand for Australian Wool has caused some concern because supply may not be meeting demand levels. Prices this week are about 25% higher than at the same time last year.
As a result of record wool prices, Down-Under Wool is expecting price increases for the products that we import from Australia. Australian Wool is being recognised around the world as a premium fibre and demand for it will continue to grow.
Can Australian farmers meet the demand of the future?