YENNORA, Australia—Auctioneer Ian Sharp has been selling Australian agricultural products to the highest bidder since 1968, and he’s never seen demand like this before.
Earlier this year, the benchmark price for fine Australian merino wool gained a foothold above the once mythic A$20/kg (about $6.60/lb) price, as one of Australia’s worst-ever droughts leaves farmers struggling to keep flocks fed.
