Australian Wool Market Down
November 7, 2003
Nov. 07, 2003 -- The Australian wool market has dropped to a two-year low. The Eastern Market Indicator fell to 800 cents a kilogram after the Australian dollar reached a new six-year high of 71.2 U.S. cents.
Victorian farmer Michael Blake says he is still making money out of his wool because he is producing a range of microns for different markets, but that he will also store a portion away with the hope that prices will improve.
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