By Andrew Woods | Source: Cotlook, RBA, BAE, AWC, WI, AWEX, ICS
Last week Mecardo looked at the strong correlation between the diminishing ratio of merino wool volumes to cotton in recent decades and the increasing price ratio of merino to cotton. A reader has asked a question about current prices in terms of how much is a cyclical peak, and how much of recent prices are structural. This article takes a look at this question.
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