Cotton prices increased significantly this week on concerns over supplies trailing the rising demand from Asia. According to the International Cotton Advisory Committee, global consumption will rise 2% to 25.1 million tons this year. China and India, the top consumers, will account for most of the demand. Reflecting this cotton futures rose to US cents 90.95 per pound, the highest closing price since 1995. The Cotlook
The Australian wool market gained handsomely this week as fine wools were the drivers of the overall market lift, better prices were recorded generally across most micron categories. The EMI was up Aus cent 12 to Aus$8.84 a kg while in US$ terms it gained US cents 31, ending the week at US$8.04 a kg. The North Australia index closed at US$8.27 a kg, while West Australia was at US$8.15 per kg. The South Australia Index closed at US$7.83 a kg.
