In the final monthly market intelligence piece for the year we examine the stellar rise of wool prices in 2017, discuss wool as a $20 fibre and show how wool has broken away from commodity fibres that wool has traditionally been compared to.
2017 has been a year to savour, with dramatic rises across all Merino microns. Overall, the EMI lifted 30% or 405 cents for the year: this is largest annual gain in 15 years with the total volume of wool sold surpassing $3 billion. Many have been referencing and comparing this year to 1988 when many believe prices were higher. In real terms this may well be true for most growers, but let’s pause and compare 1988 and 2017.