Wool numbers up
- By: "Farm Tender" News
- Ag Tech News
- Jul 06, 2017
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It's been a sustained bull run for wool despite a bit of a price retreat in June. The market is up around 16% year on year with the EMI sitting around the 1478c/kg mark.
Becuase of the fantastic season last season we are seeing more wool come onto the market as the long-suffering woolgrowers seek to take advantage of the good prices on offer. The season has also seen the clip is between half to a full micron broader and higher Vegetable Matter (VM) than the previous season
Over the last season the Australian Wool Testing Authority (AWTA) has tested 23.5 per cent more bales in May compared with May 2016. Australian Wool Testing Authority tested 23.5 per cent more bales in May compared with May 2016. The seasonal comparisons for July 2016 – May 2017 compared with the same period last season reveal 4.5pc more bales and 4.8pc more weight tested for the season. The AWTA has tested 335 million kilograms this season compared with 319.5 million kg for the equivalent period last season.
Some market analysts say the outlook for wool as a fashion item "looks exciting" in the major markets of Asia and Europe. Whether that means prices hovering around current levels or maybe even going a higher who knows, each scenario would put a smile on every Woolgrowers face.
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