2017 was a record breaker for the wool industry, with prices hitting a new high of 1,760 cents a kilogram on the Eastern Market Indicator in the final week of the year.

It equates to nearly a 30 percent price rise for the 12-month period, with more than $3 billion worth of wool sold.

Ahead of markets opening this week, rural reporter Eddie Summerfield caught up with Australian Wool Exchange Market Information Manager Lionel Plunkett.

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