December 12, 2003
According to Australian Broadcasting Corp., Western Australian wool producers would rather forget this year with the Western Regional Market indicator finishing on 747 cents a kilo clean at the close of sales.
This time last year, wool in the west was selling at around $AU1, 150 cents a kilo clean. A high Australian dollar, SARS and a lack of demand from China and Europe have all taken their toll.
According to Elders Wool Manager, however, it is not all bad news with the strength of the Japanese economy potentially increasing demand for wool next year.