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Wool prices firming up to the delight of growers
25
Sep '08
Top end Merino fibre prices had been stagnant or declining since the last few years. But there has been good news for the wool growers this week as prices have risen substantially in the past few days.

The falling dollar made purchases of the wool fibre attractive to global buyers of fine quality wool who are also making sure that they stock up before the anticipated wool shortage in Christmas.

Over supply in the markets had led to falling prices in the last few years, but with a bit of supply pressure noticed in this season, prices have started firming, much to the delight of the growers.

It is in the interests of the global high end Merino fibre purchasers to keep the prices high, so as to pre-empt the Chinese woolen manufacturers from flooding global markets with even more cheaper wool products made from high quality Merino fibre purchased at low prices, which will ultimately affect their own niche markets.

Meanwhile the Eastern market indicator closed today at 859 cents down by 2 cents, Northern closed at 906 thereby losing 2 cents, Southern indicator fell by 1 cent to finish the day at 819 and the Western indicator remained unchanged at 822 cents.

Fibre2fashion News Desk - India

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