Mohair Price sets new Australian Record !

                   Comment.

                   There seems to be no stopping the rise in world mohair prices after two years of steady
                   prices rises. Last week a sale by Australian Mohair Marketing Organisation (AMMO) set
                   a new Australian record.

                   A top price of $43.80/kg greasy was achieved for a Lot of A Length FINE KID /
                   22.5 to 23 micron with a yield of 83%.

                   Demand was extremely strong for all types with the most significant gains being made for
                   Fine Kid, Kid and Young Goat classes. Top lines rose almost 30% in value. Adult and
                   coarser lines were firm on the December sale.

                   There was a 100% clearance with an overall average of price of $10.71 which was an
                   increase of 11% on last sale.

                   Representative quotes are as follows: -

                     Class
                                                 Price (Cents/kg)
                                                                           Micron Range
                     A Length Fine Kid
                                                    4180-4380
                                                                                < 25
                     B Length Fine Kid
                                                    3790-3890
                                                                                < 25
                     A Length Kid
                                                    3200-3890
                                                                              25 – 27.5
                     B Length Kid
                                                    2430-3400
                                                                              25 – 27.5
                     A Length Young Goat
                                                    1935-2420
                                                                              30 – 32
                     B Length Young Goat
                                                    1500-1880
                                                                              30 – 32
                     A Length Fine hair
                                                     706-1250
                                                                              32 – 35
                     B Length Fine Hair
                                                     485-494
                                                                               32 - 35
 

                   International Comment.

                   The Australian price rise followed similar trends in South Africa where summer sales
                   have reached new highs of $56.22 for Super Fine lines.

                   World supplies of mohair remain low and demand for fashion products in Europe
                   continues to drive the market higher. Brokers urge caution however as it is likely that
                   there will be some price resistance at these levels.

                   There is optimism for the Australian clip in the long term as quality continues to improve
                   and local fibre is now well respected by overseas buyers.
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