January 13, 2006 -- There are indications that wool prices may lift in 2006.
The Woolmark Company predicts that the market for wool will improve from April or May of this year, with the biggest rise registering in the finer microns.
Improvements in price are expected to be marginal, with a rise of about 10 percent, said Woolmark?s Chief Economist Chris Wilcox.
Japan has shown good recovery; China and the United States are progressing well; but the economies of Germany and Italy in Western Europe are sluggish, Wilcox said.
?This is the first indication I have seen of an improvement in the prices of wool so it will be good to see what other signs come to support this forecast,? commented Rita Kourlis Samuelson, wool marketing director for the American Sheep Industry Association.
Other analysts say 2006 will not be the year of recovery for wool.
?I?m not expecting to see a rapid turn around this year, I think we?re in for a two or three year recovery with wool,? commented Richard Koch, market analysts for Profarmer.
Staff contact: Rita Kourlis Samuelson, ext. 29