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LATEST NEWS

US imposes additional 15% duty of wool clothing imports from China

09 September 2019
Australian wool prices fell sharply in August, with the Eastern Market Indicator down by 322 Acents (or 22%) from the start to the end of the month. It was a similar percentage drop in US$, Euro and Renminbi. This is one of the largest monthly % declines since 1991, with a similar % decline seen (for example) in May 2003 after the SARS outbreak in China. The decline in Merino wool prices over the past month comes amid the backdrop of the US Government introducing a 15% additional duty on…

NCWSBA supports call for the mandatory use of pain-relief

09 September 2019
At its meeting on 22nd August, the NCWSBA Board decided unanimously to support the call for the mandatory use of anaesthetic/analgesia when surgical mulesing is conducted. As is now well known, WoolProducers Australia and some state farming organisations have adopted a policy of seeking the mandatory use of pain-relief for surgical mulesing. This is being supported by Sheep Producers Australia. The Board of NCWSBA considered the results of a survey of its members which showed that the…

Drought pushes Australian wool production lower in 2019/20

19 August 2019
The Australian Wool Production Forecasting Committee (AWPFC) met on Wednesday to review its forecast for shorn wool production in Australia for 2019/20. The new forecasts were released today and show that the Committee now predicts that shorn wool production will be 285 mkg greasy, down 5% on the estimate for 2018/19 (which is 300 mkg greasy). The main driver for the decline in shorn wool production is a lower number of sheep shorn as a result of the increased turn-off of adult sheep in…

Wool prices drop sharply as Supercycle hopefully nears the bottom

19 August 2019
Wool prices in the Australian wool market dropped alarmingly in the week ending 16th August. Clearly the negative sentiment in the wool market triggered by the Trump Administration’s announcement of 10% import duties on the remaining imports from China two weeks ago and the subsequent devaluation of the Chinese Renminbi continued. The decline in the EMI since the peak exactly one year ago (including the sharp falls in the past fortnight) follows the pattern we have seen for all five Supercycles…

US-China trade and currency tensions push Australian wool prices lower

19 August 2019
Hopes for a solid resumption for the Australian wool market after the three-week recess were dashed by the unexpected ramping up of the US-China trade war. Wool prices fell sharply almost across the board, despite a relatively low wool offering for sale and with 28.6% passed-in (the highest rate in over a decade according to AWEX). The news dominating the wool market (as well as dominating the world equity and commodity markets in general) was the increased trade tensions between the US and…

Textile fibre prices slide

05 August 2019
It is time for an update on the trends in prices for the major competing fibres with wool. While Australian wool prices have pulled back from the heights over the past 6-9 months, prices for the other major competing fibres have also seen declines, in general continuing the slide seen since the first half of 2018. For synthetic fibres, prices for all three fibres have fallen since mid-2018, although acrylic fibre prices have turned down again after a rebound earlier this year. The decline in…

Good premiums for non-mulesed wool in 2018/19

22 July 2019
Data from AWEX shows that the premiums paid for non-mulesed Merino wool at auction in 2018/19 remained at high levels despite the overall record price levels paid for wool in 2018/19. There were also premiums paid for non-mulesed Crossbred wool of 27 micron and broader. On average in 2018/19 there were premiums of 38 to 53 cents/kg for non-mulesed Merino wool of between 16 and 19 microns. For 20 micron wool, the average premium was 20 cents/kg in 2018/19. The sharp drop in the volumes of 21 and…

Finalists Announced for NCWSBA 2019 Wool Broker Award

15 July 2019
There was a strong field of applicants for the NCWSBA Wool Broker Award this year. The independent Selection Panel of Ed Storey (President, Woolproducers Australia), Ian Ashman (General Manager, Raw Wool, AWTA) and Terry Sim (Senior Journalist for Sheep Central) met on Friday, 12th July and, after reviewing the five applications, agreed on the Finalists for the 2019 NCWSBA Wool Broker Award. The three Finalists are: Samantha Wan (Elders, Victoria)Russell Macgugan (AWN, Victoria) andMatthew…

Price differential between medium and superfine wool closes

15 July 2019
Prices have been on a bit of a roller-coaster in recent months, albeit on a general downwards trend as prices pull back from the peak in the Supercycle. While all Merino wools have seen prices fall back in the past few months, the relatively larger declines have been seen for wool of 18.5 micron and finer. Prices for this wool are down by 14%-17% since February. In contrast, medium Merino wool of 21 to 23 micron are down by 9%-12%. Prices for Crossbred wool of 26 micron to 30 micron have fallen…

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The National Council of Wool Selling Brokers of Australia

 

News Flash

The Australian Wool Production Forecasting Committee (AWPFC) met on Wednesday to review its forecast for shorn wool production in Australia for 2019/20. The new forecasts were released today and show that the Committee now predicts that shorn wool production will be 285 mkg greasy, down 5% on the estimate for 2018/19 (which is 300 mkg greasy). The main driver for the decline in shorn wool production is a lower number of sheep shorn as a result of the increased turn-off of adult sheep in response to drought in key regions, notably in New South Wales, and record prices for sheep for slaughter. As well, lamb marking rates are reported to be low in the drought-hit areas, reducing the ability for wool growers to lift flock numbers.

The Committee expects that shorn wool production in New South Wales (NSW) will drop by 11.4% in 2019/20. This comes after a 21.2% decline in 2018/19. As a result, NSW’s share of Australian wool production will fall from 37% in 2017/18 down to just 31% in 2019/20. NSW remains the largest wool producing state in Australia, but its gap over Victoria and Western Australia has narrowed significantly. The decline in NSW is due to the prolonged dry and drought conditions in many regions of the state which are showing no real signs of abating. In contrast western Victoria, south-east South Australia and Western Australia are all experiencing more normal seasonal conditions in recent months. As a result, shorn wool production in those states will be similar to or only a little less than in 2018/19. This has moderated the decline for Australia in total. Further details of the AWPFC’s estimates for 2018/19 and forecasts for 2019/20 are given in the Media Release available on www.wool.com

National Council of Wool Selling Brokers of Australia

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