Wool prices have gained about 3% in dollar terms since the beginning of September, signaling a relatively good start to the new production season. The Australian Wool Exchange Eastern Market Price Index has risen from $4.69 to $4.82 per lb. over the past six weeks. Wool prices remain 15% higher than their 52-week low of $4.18 per lb. reached in July, but well off the high of $5.37 hit in February.
In some microns, however, prices have been volatile and unpredictable in the Australian auction market, reflecting concerns over consumer demand in key markets.
The Australian dollar increased in value by about 4% compared to that of the U.S. since early September, which is early Spring in the Southern Hemisphere. The increase in currency value is partly responsible for the change in price.
The U.S. remains one of the top markets for wool apparel and accessories, though demand for the fiber has suffered steady declines in recent years as synthetics have gained in popularity.