Not sure about other servers, but at the moment on Elune there's barely any wool in the AH and the price of a stack for the one that is up for sale is about twice as much as for a stack of silk.
It might be due to the influx of new players taking up tailoring so who knows how long it will last. This morning there was barely 10 stacks up for sale so it would be hard to believe that someone is buying it to resell. When I was still working with wool, I'd pay 20s a stack, now if I sell some, I price them at 25-30s and they sell in minutes.
At this rate, I'm considering buying up dozens of stacks of silk at the current price and re-selling them at double what I paid when that new bunch of people reach silk level =)
Edited, Thu Jan 20 07:53:16 2005 by Venil