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Article: Can the Australian Wool market keep on climbing through '87-88? (Australian Wool Corp.)
- Article from:
- Daily News Record
- Article date:
- September 1, 1987
- Author:
CopyrightCOPYRIGHT 1987 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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Can the Australian Wool Market Keep on Climbing Through '87-'88?
Can the Australian wool market sustain its record-breaking run for the whole of the 1987-88 selling season? That's the question industry analysts are asking themselves two months after the 1986-87 market closed at record levels.
When sales closed in June, the market indicator stood at a record $7.55 Australian ($5.44 U.S.), and the market had performed the remarkable feat of purchasing 5.1 million bales of wool when the wool clip was only 4.6 million.
This was accomplished through the selling off of most of the extensive stocks of wool held earlier by the Australian Wool ...