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LATEST NEWS

Raw wool demand drops, but tentative signs of improvement from China

14 September 2020
The latest data on wool exports by the five major wool producing and exporting countries shows the extent of the decline in raw wool demand by the major wool processing countries so far in 2020. However, there are some tentative signs of improvement in the raw wool demand by China, the largest wool processing country. Data on Australian wool exports in July shows that the volume of exports to all destinations were down by 8%. This decline came despite an 8% increase in exports to China. This is…

Wool price competitiveness improves strongly

07 September 2020
One positive result of the larger decline in wool prices compared to that of the decline in prices for competing fibres is that wool price ratio against cotton and synthetics has fallen back sharply since March. The fall in the ratio of the wool prices has been stunning, particularly against cotton. The current price ratios for 21 micron and 28 micron wool against cotton are the lowest since May 2011. The price ratio for 18 micron wool is the lowest since March 2014. These are dramatic falls…

NCWSBA President's 2019/20 Report - A Year of Turmoil

31 August 2020
It is with very mixed emotions that I deliver to you the President’s report for the last 12 months. It has been a year of turmoil, that continues to evolve on a day by day basis as I write this report. Our beloved wool industry continues to be smashed on all sides. To believe we survived drought, fires and floods, only to be confronted by COVID – 19 really put the icing on the cake. 2020 will long be remembered, for all the wrong reasons. Wool is basically totally discretionary spend and with…

Rowan Woods appointed as NCWSBA President, Stephen Keys as NCWSBA Vice President

31 August 2020
The NCWSBA Annual General Meeting was held on Thursday, 27th August, followed by a meeting of the NCWSBA Board. It was a very different event compared with the event in past years. Because of COVID-19 restrictions, the meeting was held as a Zoom videoconference and the AGM was restricted to the business of the AGM. Unlike previous years, there was no updates from AWTA, AWEX and AWI, nor did we have presentations by the Finalists for the NCWSBA Wool Broker Award (the Award has been postponed to…

Wool prices down more than prices for other textiles

31 August 2020
Textile fibre prices have been hit the hardest of the various commodities by the COVID-19 pandemic, probably because of the severe impact of COVID-19 restrictions on clothing retail sales around the world, and the impact on consumer spending generally. Wool prices have fallen sharply in the past few months, particularly in A$ terms. In A$ terms, the EMI is down by 57% since the start of 2020 and down by 16% since the start of the 2020/21 season. In US$ terms, the EMI is 37% lower than at the…

Superfine wool price premiums recover amid general price falls

24 August 2020
Prices in the Australian wool market fell sharply this week, continuing the trend since the start of the 2020/21 season. Since the end of June, the EMI has fallen by 165 cents or 15%. Proportionately, the largest decline has been for Merino Cardings, which are down by 26%. Of the fleece wools, wool of between 19 micron and 22 micron have fallen by 15% to 19%, while Crossbred wool has declined by between 7% and 15%, with the 32 MPG down the least. Prices for superfine wool (18.5 micron and…

US clothing imports drop like a stone under the weight of COVID-19

17 August 2020
The latest data shows that US imports of clothing plummeted in the first six months of 2020 as the large decline in retail sales of clothing (see the Weekly Newsletter of 10th July) has hit hard. US imports of clothing in the January-June period this year were down by 28% in quantity and down by 30% in value. It is the lowest total volume in the first half a year since 2009 (as the Global Financial Crisis hit) and the lowest total value since 2002. All fibres have been hit similarly by the…

Australian wool export volumes at long term low in 2019/20

10 August 2020
The latest data on Australian wool exports from the Australian Bureau of Statistics were a bit of a pleasant surprise. It shows that the volume of wool exported from Australia in June actually increased in June compared with June 2019. The increase was only small (+3%) and the export volume in June 2019 was the lowest June monthly total for many years, but, still, any increase in the current environment is very welcome. The reason that the volume of wool exports increased in June was due…

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The National Council of Wool Selling Brokers of Australia

 

News Flash

The Australian Wool Production Forecasting Committee released its updated forecast of shorn wool production for 2020/21 on 14th August 2020. The Committee now predicts that shorn wool production in 2020/21 will be 280 mkg greasy. This is a decline of just 1.1% on the 283 mkg greasy produced in 2019/20 and comes after the 5.5% fall in 2019/20 compared with 2018/19. This updated forecast is an improvement on the Committee’s April forecast for 2020/21 of 276 mkg. The Committee expects the small decline in shorn wool production despite the much better seasonal conditions throughout much of New South Wales, Victoria, Tasmania, and the south-east of South Australia. The main driver for the decline in shorn wool production is a lower number of sheep shorn combined with the residual effects of the drought in the first part of the season and continued dry conditions in Western Australia, central Queensland and in the pastoral regions of South Australia.

Full details are provided at here.

National Council of Wool Selling Brokers of Australia

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