Fed: Wool prices continuing to soar

AAP General News (Australia)
02-12-2001
Fed: Wool prices continuing to soar

The Australian wool industry continues to power forward with prices reaching their
highest mark in three years.

Wool is now selling just short of the 800 cents a kilogram mark on the back of a strong
demand for dwindling stocks.

Prices climbed 17 cents a kilogram during last week across all wool ranges including
middle to coarse micron groups.

Wesfarmers Dalgety has reported both China and Korea are strong buyers and a small
fall in the value of the Australian dollar is keeping them interested.

Wesfarmers Dalgety says the outlook is positive but prices are not expected to continue
the steep rate of increases experienced last week.

The national average price is now almost 150 cents a kilogram, or about 23 per cent
higher than it was a year ago.

AAP RTV sw/daw/jtb/jn

KEYWORD: WOOL (CANBERRA)

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