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Wool Exports Increase 24 Percent | KRVN Radio

Wool Exports Increase 24 Percent

Wool Exports Increase 24 Percent
Lee Torrens/iStock/Thinkstock

Wool exports increased 24 percent during the 2017 marketing year. Exports of U.S. wool increased 8.64 million lbs. to total more than 25 million lbs. for the year.

The American Sheep Industry Association says work in conjunction with the Department of Agriculture’s Foreign Agricultural Service has been “vital in the expansion of American wool exports.” China remains the top export destination with a very significant increase of 51.3 percent in United States exports. Meanwhile, Western Europe was the second-ranked destination, followed by India and Eastern Europe. Stronger world demand and steady world wool production also resulted in record wool prices as indicated by the Australian Eastern Market Indicator.

In U.S. dollars, this represented a 30.7-percent increase year-on-year as of early November, and prices have continued to increase.

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