The latest Ag Answers Australian Wool Update has been released, revealing that wool growers are receiving some of their best returns in decades with the AWEX Eastern Market Indicator (EMI) hitting an all-time high of 1681 cents per kilogram in November 2017.
Rural Bank’s Ag Answers team is now forecasting Wool production to remain historically low at 340 million kilograms in 2017/18 and the slow process of increasing flock sizes will ensure a large wool price drop is unlikely any time soon.
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