Wool prices rise on Chinese demand

Posted on 11/05/2009  

Wool prices have increased by more than 100 cents per kilogram over the past five weeks, hitting 805 cents at recent auctions, thanks to increased demand from Chinese mills and forecasts of shrinking supplies. Prices hit a low of 690 cents in February. The National Wool Forecasting Committee predicts further price rises, with wool production expected to be lower over the next 12 months.

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