By Andrew Woods | Source: BAE, AWC, AWEX, RBA, ICS
By the standards of historical wool price (in Australian dollar terms) the current merino market is high. The percentile rank for the average merino micron price is between 98% and 99% for the past five, ten and fifteen years. So, is the market at a cyclical high with the potential to enter into a cyclical downturn? This article takes a look at this question.
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