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LATEST NEWS

Raw wool demand falls

14 October 2019
Wool prices have dropped sharply in the past few months, reflecting sharply lower demand and comes despite the lower volumes of wool available from Australia. The fall in demand is illustrated by the decline in the volume of wool exported by the five major wool exporting countries (Australia, New Zealand, Argentina, South Africa and Uruguay). For the first eight months of 2019, total wool exports from these five countries were 11% lower than for the same period in 2018. At just 352 mkg greasy,…

Volume of wool tested slumps in September

07 October 2019
According to data from AWTA, the weight of wool tested across Australia fell sharply compared with September 2018, continuing the downward trend seen so far this season. Across Australia, there was a 13.7% drop in the weight of wool tested for the month. At just 24.28 mkg it is the lowest total for September in many, many years. As a result, there was a 14% drop in the weight of wool tested in the first quarter of the 2019/20 season. This is a larger decline than the current forecast from the…

Report from the Nanjing Wool Market Conference: High stocks in China wool textile industry

30 September 2019
The Nanjing Wool Market Conference was held on 21st and 22nd September in Qufu, China. The mood of many of the attendees and of the presenters was quite pessimistic. Their concerns stem from the US-China trade war and its effect, not just directly for the wool textile industry in China, but also on economic growth and consumer confidence in China, as well as the impact on other economies. Demand through the wool textile industry has slowed, not just in China but around the world, and stocks…

Lower levels but most wool prices still above 70th percentile

30 September 2019
When the price distributions were last reviewed on 8th February, the EMI was at 1944 Ac/kg and 1380 USc/kg, which was at the 98th percentile in A$ and the 96th percentile in US$. As at 20th September, the EMI had fallen to 1542 Ac/kg (the 93rd percentile) and 1047 USc/kg (the 85th percentile). While wool prices from 30 micron down have all fallen since February, the largest declines have been for Merino wool which are 20% to 25% lower in A$ terms and 23% to 29% lower in US$ terms. [The A$ is…

US imports more wool clothing in June and July as retailers anticipate new import duties

16 September 2019
The US imposed an additional 15% import duty on wool clothing imported from China, effective from 1st September, adding significantly to the cost of wool clothing imported into the US from China in the lead-in to the Autumn/Winter season. The latest data on the US imports of wool clothing both in total and from China suggests that US importers and retailers anticipated the additional import duties by importing more wool clothing in June and July. US imports of apparel of all fibres lifted by 9%…

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…

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The National Council of Wool Selling Brokers of Australia

 

News Flash

The National Council of Wool Selling Brokers of Australia will celebrate its Centenary in 2020. It was established in December 1919 and held its first meeting in January 1920. NCWSBA is the only national organisation representing wool brokers on all issues that affect the Australian wool industry. The Australian wool industry is an iconic part of Australia’s history and its economy and wool broking companies have played a vital role in that history and the industry’s contribution to the Australian economy. The celebration of the NCWSBA Centenary will also celebrate the role of wool brokers in this iconic industry.

The Centenary of NCWSBA will be marked in February 2020 by the NCWSBA Centenary Auction on 20th February 2020, followed by a cocktail reception. The auction will be a commercial auction with limited volumes and held at 120-138 King St, Melbourne on Thursday, 20th February 2020. The four-storey building housed the Melbourne Wool Exchange which held auctions there until 1972. It was also the location of the first NCWSBA Board meeting in January 1920. It is currently the Melbourne campus of the Australian Institute of Music.

The cocktail reception will be held in the Intercontinental Melbourne The Rialto. One of the two buildings which make up the Intercontinental Melbourne The Rialto was previously known as the Wool Exchange Building and was the location of the first amalgamated wool exchange and incorporated an auction hall which brought together all the Melbourne wool sales. The other building housed offices for wool warehousing and broking companies, including Strachan & Bostock. For a period in the early 1900s it housed the offices of the Melbourne Woolbrokers’ Association. The cocktail reception will feature a charity auction of suit lengths and active wear. All monies raised in the charity auction will be donated to the Michael Manion Wool Industry Foundation.

National Council of Wool Selling Brokers of Australia

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