Since the collapse of the Reserve Price Scheme for wool, prices have rarely been at levels that woolgrowers would say they were happy with. In recent years fine wool prices have been especially depressed, while medium wool prices have been reasonablerelative to recent history. This month we take a look at recent relative fine-wool prices, what has been depressing prices and where these prices may be headed. Since the 1989-90 wool selling season the volume of wool sold at auction in Australia has been on the decline. In fact, in the past 20 years the number of bales sold at auction in Australia has declined almost 62% from its peak. While some of the movement is a result of lower wool cuts caused by drought, the vast majority of the decline is due to wool growers choosing to leave the sheep industry.
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