Wool prices have fallen back from the record levels seen in August. At the same time, prices for other fibres have also pulled back, as have prices for other industrial commodities such as metals and oil. The sharpest declines have been seen for oil, wool and cotton. While each market has its own characteristics and drivers, there are wider forces causing a general decline in commodity prices. This includes the slow-down in economic growth in China, the ongoing trade tensions between the US and China, and a mounting sense that the US economy has peaked. The latter is best reflected in the falls in the US share market over the past couple of months.
Further details, including a chart showing the trends in prices of commodities, including wool are contained in the 30th November 2018 edition of the Weekly Newsletter, available to NCWSBA members.