Fed: Wool stockpile under half million bales

AAP General News (Australia)
02-04-2001
Fed: Wool stockpile under half million bales

The Australian wool stockpile is down to its lowest level in a decade as the nation's
farmers continue to enjoy good prices.

WoolStock chairman DON MCGAUCHIE says the company now owns fewer than half a million
bales -- half the quantity it controlled when WoolStock was formed in July 1999.

Mr MCGAUCHIE says the year's started well and looks to be continuing.

The stockpile climbed to almost four million bales in the early 1990s after the collapse
of the then floor-price scheme.

Since then, wool prices have remained low.

But in …