Wool prices surge to new highs at auction sales

Marty Moses

Marty Moses

Wool prices have surged by 64c/kg at Australian auction sales. 

The Australian Wool Exchange Eastern Market Indicator closed for the week at 1614c/kg.

Moses and Son principal, Marty Moses of Temora said the rise was aided by one of the largest two-day price jumps in two years. He said the indicator was at an all-time high and currently 25 per cent higher than the same period last year. 

China showed the most strength in terms of buying power.