Wool price clipped

The price of wool has plummeted to its lowest level in six years.

The past week has seen 11.3 percent wiped off the value of the fibre, the biggest single week fall since 1991.

Since record highs in August 2018, the lead indicator is down 52 percent — sitting at 1006 cents per kilogram.

Rural editor Eddie Summerfield caught up with Wool Exchange Market Analyst Lionel Plunkett:

Listen to the full interview above or Subscribe to the National Rural News podcast: http://bit.ly/RuralNewsPodcast