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Australian Wool Prices Hit Record High -- Market Talk

3 Nov 2017 4:18 am

0418 GMT - Australian wool prices hits record highs as wide demand pushes all thicknesses higher, according to farm group Australian Wool Innovation. "Whilst Chinese interests remain very much the largest buyer in our salerooms, this week featured purposeful buying from European operators." The AWEX Eastern Market Indicator, the global benchmark for wool prices, ended the week up 2.8% at A$16.23/kilogram. The index in US dollar terms is up 22% the past year, though it remains below 2011's peak; then the 2 currencies were nearly equally valued. Now, the Aussie is worth more than 20% less than the greenback. (lucy.craymer@wsj.com)

(END) Dow Jones Newswires

November 03, 2017 00:18 ET (04:18 GMT)

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