Wool prices in key Australian markets drifted higher in October and November in U.S. dollar terms. The benchmark Australian Eastern Market Index (EMI) was $4.09 per pound for the last week of November, up from $4.03 at the end of October and $3.90 in September, but remaining well below the peak of almost $4.90 per pound reached in early June.
A strong U.S. dollar helped firm prices, as did a pickup in demand for wool in the outerwear and activewear segments.
The popularity of double-faced woolen fabrics in coatings stimulated China’s wool imports, and demand for finer merino counts has been buoyed by the robust sales of wool for athletic and athleisure wear at brands like Patagonia, Under Armour and Smartwool.
In dollar terms, wool prices are roughly 3 percent below year-ago levels.
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