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Article: Wool prices soar to 2-year high.
- Article from:
- Daily News Record
- Article date:
- July 25, 1997
- Author:
CopyrightCOPYRIGHT 1997 Conde Nast Publications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Wool fiber is experiencing its largest price jump in the past two years.
The higher costs could be felt in the fall fabric buying this year and will likely affect fall '98 retail prices of suits, sport coats, trousers and other wool apparel.
Wool prices increased somewhat in '96 and rapidly since the Australian wool auctions began after Christmas '97.
From the December Christmas recess in the Australian auctions to the present recess (which will end Sunday), the Market Indicator price of wool has leaped about 33 cents a pound, from $2.11 to $2.44, or a 15.5 percent increase. The higher grades of wool have increased even more, recording an average surge ...