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WOOL | 6 February 2011

Wool market at 20 year highs


The Wool market has begun 2011 in impressive style, with the EMI lifting to 20 year highs.


After climbing over 200cents during the first two weeks of wool sales from 1031 to 1242, on the 19th Jan, prices eased off slightly, before lifting again in the first week of February to a 1255.


This is the highest level since 20th January 1989 when the EMI was 1257 c/kg. The week before that it was 1311. The All time high was 1584 for week ending 22 April 1988.


With the AUD - USD exchange rate trading at parity or above, In US$, the EMI is at an all time high, last reported by awex to be 1268 USc.


Meanwhile, the CotLookA Index hit 205.5 USc/lb last week. It has been breaking the record almost every day over the past 2 weeks. Cotton has been leading the upward price trend that all fibres have been experiencing. The rising cotton price is a good sign for wool.


For more information on the trends of other fibres and how this is relating to wool, download the January edition of the Wool Economic Focus.




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