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Wool's price competitiveness
18 Apr '07
2 min read
Wool's competitiveness relative to its competing fibres decreased in the first three months of 2007. In February, the price of 21 micron wool was getting close to 4 times the price of synthetics and 6 times the price of cotton in US dollars.
The decline in wool's price competitiveness relative to synthetics and cotton since the beginning of 2007 is symptomatic of the rise in the price of wool, compared to falling or stagnant prices for synthetics in January and February 2007, compared with the end of 2006.
Wool prices have strengthened on the basis of smaller wool offerings at auctions because of the drought in Australia and uncertainty about wool supply in 2007.
The price of polyester has decreased since a high in September 2006, due to lower raw material costs. Acrylic prices decreased in January and February 2007, but remain high after rising throughout 2006.
Cotton prices in January and February 2007 were lower than the cotton price in December 2006, but remain relatively stable.
As wool prices are expected to be strong over the next 3 to 4 months, and prices of cotton, acrylic, and polyester are not anticipated to increase significantly in the short-term, wool's relative position is unlikely to change.
The decline in wool's price competitiveness relative to synthetics and cotton since the beginning of 2007 is symptomatic of the rise in the price of wool, compared to falling or stagnant prices for synthetics in January and February 2007, compared with the end of 2006.
Wool prices have strengthened on the basis of smaller wool offerings at auctions because of the drought in Australia and uncertainty about wool supply in 2007.
The price of polyester has decreased since a high in September 2006, due to lower raw material costs. Acrylic prices decreased in January and February 2007, but remain high after rising throughout 2006.
Cotton prices in January and February 2007 were lower than the cotton price in December 2006, but remain relatively stable.
As wool prices are expected to be strong over the next 3 to 4 months, and prices of cotton, acrylic, and polyester are not anticipated to increase significantly in the short-term, wool's relative position is unlikely to change.
Australian Wool Innovation Limited
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