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Related Keywords: Australian producers saw relatively gentle movement, cashmere, Euro terms, local wool market this week, market much stronger with a rise of twenty one Euro cents, medium merino fleece, overall market rose by sixteen US c, past week, rise in Australian dolla, Stronger Australian dollar weighed, Superfine Merino, Wool prices strengthen

Wool prices strengthen despite rise in Australian dollar due to which for the past week the overall market rose by US16c. Stronger Australian dollar weighed on the local wool market this week. In Euro terms the market was also much stronger with a rise of 21 Euro cents for the week. Australian producers saw a relatively gentle movement of only plus-3c with superfine Merino continuing to lead the way. Further with buyers continuing to target the better tested lots, the 18 micron and finer rose by as much as 30c.

Related Keywords: agricultural-crops, Australian textile industry, launch new wool product, malmsbury, micron, Superfine Merino, Superfine wool industry, wangaratta, wool, world's finest hand-knitting yarn

The Australian textile industry has launched a new product which is made from wool that is eighteen-and-a-half micron or finer to give a boost to the superfine wool industry.

Traditionally, superfine wool has been reserved for the world's best suits, but now a knitting yarn, using some of the nation’s best wool, has been developed.

The product is likely to bring a success for the 90-year-old Wangaratta Woollen Mills and give superfine wool growers, who have struggled with the declining value of their product, a new market.