Australian See-Saw: Dollar Up-Wool Down
October 10, 2003
According to Australian Broadcasting Corporation, ?wool prices have plunged to their lowest level in nearly two years, at the same time as the Australian dollar hits a six year high.? The eastern market indicator fell 23 cents on Oct. 8, 2003, to 838 cents a kilo clean.
Landmark?s national wool manager, Ross Bawden, says buyer confidence has been dented by the strong dollar, the spring flush of wool onto the market and the lack of demand.
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