"The wool market is moving in the right direction," said Randy Hammerstrom, U.S. Department of Agriculture's Livestock, Poultry and Grain Market News Officer in Charge.
Because of shearing delays, wool volume is lower right now. Therefore, exporters needing to fill specific orders are working on a tighter margin.
"Wool prices in the country have increased as much as 30 cents a pound/clean," said Peter Orwick, executive director for the American Sheep Industry Association. "Over a three week period, there has been a 6 percent jump in the price of clean 23 micron wool. This category catches the majority of the western clip."
Both Utah and New Mexico have held sales in the last week so a clearer picture of U.S. prices should be available once reporting has been completed.