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Strong demand and record prices for wool

Australia's wool industry is in a renaissance not seen since the golden era of the 1950s, with record prices and a billion dollars in sales in the last four months.

Strong demand from China and short supplies of wool are behind the surge, with the price signal, the Eastern Market Indicator (EMI), reaching an all-time high of 1,623 cents per kilogram.

















Limited Supply

Riverina wool broker, Marty Moses, from Temora, said there was an urgency among northern hemisphere buyers to secure wool before supply dwindles.

With the AWEX Eastern Market Indicator sitting 320 cents a kilogram above the same time last year, Mr Moses said growers were eager to get as much wool on the market as possible.