A thirty-year low in supplies, combined with a surge in demand from wool top processors, is being blamed for the largest weekly rise in Australian wool prices for a decade.

In the first week of the New Year, prices jumped 11.8% on average while the AWEX Eastern Market Indicator price - an average of a variety of wool types and microns – climbed by an equally dramatic 80 Australian cents per kilogram to 835 cents.

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