Last week showed of the 18,446 bales offered, only 2% were passed in finishing a 1,943c/kg. For several weeks, wool prices have jumped 6% and the once impossible, 2000c/kg is now very much in sight. Shorter supply is what is helping the market along and prices didn’t just edge up, they opened stronger on all occasions.
This is definitely a timely accolade as at the end of the month is The Woolmark Company’s Wool Week for 2018. The spotlight will be on woolgrowers, fashion designers, retailers and consumers. Australia produces approximately 90% of the world’s fine apparel wool suitable for the high end fashion market. It is no surprise that some of the country’s biggest labels and retailers are throwing their support behind the campaign and using an increasing amount of Merino wool within their collections.