Wool Price Increases Predicted

July 14, 2006 - According to ABC Australia, there is some good news for the wool industry this week with analysts tipping good price increases in the second half of the year.

Retail demand is down in key markets like the United States and Japan, but economic conditions in most wool consuming countries are forecast to improve, which should see sales pick up. With most Australian auction centers entering the winter recess, chief economist at Woolmark, Chris Wilcox, says confidence for the rest of the year is high.

"We would expect to see a similar price gain to what we've seen in the first six months," he said.

"It is a fairly positive outlook, in fact, the last survey Woolmark conducted was the most positive we've seen in nearly five years. And I think we'll see more of that in the coming few months."
Reprinted in part from ABC Australia

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