20 Jan 2011

Wool making comeback

10:02 am on 20 January 2011

After years of low prices, it appears wool is starting to make a comeback.

That's being helped by a recently announced funding boost of $17 million, from the Government and the industry, for wool research.

Federated Farmers says prices have begun to improve, with recent returns for coarse wools increasing by 50%.

Representative Bruce Wills says he was receiving some of the poorest prices ever for his product two years ago.

Now there's been an increase in demand because wool supply has diminished and niche brands have been established.

Mr Wills says specific wool brands will form a part of the industry's future.