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LATEST NEWS

NCWSBA Celebrates its Centenary

17 February 2020
More than 200 hundred people will come together this week to celebrate the centenary of the National Council of Wool Selling Brokers of Australia. The centenary will be marked by the NCWSBA Centenary Auction to be held on Thursday, 20th February 2020, which will be followed by a cocktail reception featuring a charity auction in support of the Michael Manion Wool Industry Foundation. President of the NCWSBA, John Colley, said “The Australian wool industry is an iconic part of Australia’s history…

Slump in US imports of wool clothing from China due to penalty import duties

17 February 2020
The Covid-19 outbreak isn’t the only challenge that the wool textile industry in China is facing. The industry is also dealing with the impact of the additional 15% import tariffs imposed by the US on imports of wool apparel from China in September. After a sharp decline in imports of wool clothing from China by the US, this decline continued in October and November. The quantity of US imports of wool clothing from China slumped by 44% year-on-year in October and by a further 34% in November.…

Weight of wool tested down by 5% to end January

17 February 2020
At the start of February, AWTA released the data on wool tested in January. It shows that after the unexpected year-on-year 15% jump in December, the weight of wool tested was lower than year earlier levels in January. However, the year-on-year decline of 4.3% for the month was a much smaller decline than seen between July and September 2019. As a result, the weight of wool tested for the seven months July to January was 5% lower than for the same period in 2018/19. This year-on-year decline is…

Coronavirus outbreak creates massive uncertainty for the wool market

03 February 2020
The coronavirus outbreak, which started in Wuhan and has been declared a global health emergency by the World Health Organisation, dominated the Australian wool market this past week. The situation is changing rapidly and predicting what will happen from here is nigh on impossible. The number of cases is rising exponentially, and the global response is only now starting, including bans on flights to and from China by some airlines and by some countries. The only thing I think that anybody can…

No direct benefit for wool from US-China Phase One Trade Deal

29 January 2020
The US and China signed the Phase One Trade Agreement on 15th January. Going through the text to see the impact this Phase One Agreement will have on wool reveals that the additional 15% import duty that was imposed in September on US imports of wool clothing from China remains in place. That means that, for example, US imports of wool sweaters from China has the regular import duty of 16% PLUS the additional 15% duty, a total of 31% added to the import cost of the sweater from China. One other…

Raw wool trade from major exporting countries falls

16 December 2019
The latest data on Australia’s wool exports from the Australian Bureau of Statistics show that wool exports fell in October, continuing the negative trend seen for much of the past six months. The volume (i.e. weight) of Australia’s exports fell by 10% in October and was down 35% by value. For the first four months of the 2019/20 season, Australia’s wool exports were 21% lower in volume terms and a massive 40% lower by value. Australia is not alone in seeing a significant drop in wool exports…

IWTO Roundtable focuses on challenges for broad wool

16 December 2019
The IWTO held its annual Roundtable meeting in Queenstown, New Zealand at the start of December. Perhaps unsurprisingly, the difficulties facing the broad wool (or, as they call it in NZ, the strong wool) sector was the major topic of discussion over the two days, although there was also a number of presentations which had more relevance to the fine, Merino wool sector. Certainly, broad wool (32 micron and broader) is facing severe challenges, with Colin MacKenzie of CP Wool saying that there…

Mixed consumer confidence and retail sales in the Northern Hemisphere

16 December 2019
The current trends and levels of consumer confidence in the major wool consuming countries reflect the uncertain economic conditions in many countries. Consumer confidence in the EU has weakened over the past 12 months as the economies in the EU have weakened. There has been a particularly sharp fall in consumer confidence in Japan in the past 12 months to the lowest level since 2012. Consumer confidence in South Korea also remains well below the levels seen in 2017 and the early part of 2018.…

New forecast predicts 9% decline in Australian shorn wool production in 2019/20

25 November 2019
The Australian Wool Production Forecasting Committee met on Wednesday, 20th November to review its forecast of shorn wool production for the 2019/20 season. The Committee decided to move its meeting forward from December given the continued dry and drought conditions across many of the major sheep and wool producing regions. The dry conditions have resulted in a larger decline in wool volumes tested and offered at auction than the Committee had previously expected. The Committee’s new forecast…

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The National Council of Wool Selling Brokers of Australia

 

News Flash

The Australian Wool Production Forecasting Committee met on Wednesday, 20th November to review its forecast of shorn wool production for the 2019/20 season. The Committee decided to move its meeting forward from December given the continued dry and drought conditions across many of the major sheep and wool producing regions. The dry conditions have resulted in a larger decline in wool volumes tested and offered at auction than the Committee had previously expected.

The Committee’s new forecast is for shorn wool production to total 272 mkg greasy this season, down by 9.2% on the 300 mkg that was produced in 2018/19. For those interested in historical precedence, this is the lowest level of shorn wool production in Australia since the 1923/24 season when shorn wool production was 268 mkg greasy.

In August, the Committee predicted that shorn wool production would fall by 5% this season based on a return to more normal Spring rainfall and rain falling in areas that are in drought. This has not eventuated for many regions, with below average rainfall in the three months from August to October in almost all of the major wool growing regions in Australia. This has resulted in lower fleece weights in many states, with the exception of some areas of Victoria. Overall, the Committee expects the national average wool cut per head to fall this season by 1.7% to 4.06 kg/head. This is the lowest average at least since 1981/82 (when the AWPFC’s data series begins). However, the biggest contributor to the decline in shorn wool production is from a sharp drop in sheep shorn numbers. This is predicted to decline by 7.5% to 67.1 million head.

Full details, including a chart showing the trends in sheep shorn numbers and shorn wool production in Australia since the start of the 2000s, are provided in this week’s Weekly Newsletter. Available to NCWSBA members.

National Council of Wool Selling Brokers of Australia

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