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LATEST NEWS

General fall in commodity prices, including wool and other textile fibres

06 December 2018
Wool prices have fallen back from the record levels seen in August. At the same time, prices for other fibres have also pulled back, as have prices for other industrial commodities such as metals and oil. The sharpest declines have been seen for oil, wool and cotton. While each market has its own characteristics and drivers, there are wider forces causing a general decline in commodity prices. This includes the slow-down in economic growth in China, the ongoing trade tensions between the US and…

Online training for Emergency Animal Disease

26 November 2018
There is now a Wool Broker and Livestock Agents Online Training Course available to help prepare for if and when there is an outbreak of an Emergency Animal Disease in Australia, such as Foot and Mouth Disease. The course has been developed under the direction of WoolProducers Australia and SheepProducers Australia with funding from Animal Health Australia. The course is designed to inform and train wool and livestock selling agents about how to recognise and respond to a suspected Emergency…

US clothing retail sales growing strongly in lead-in to Autumn/Winter 2018

26 November 2018
‘Black Friday’ sales are becoming a global phenomenon with Australian retailers embracing it this year (both online and bricks & mortar retailers). ‘Black Friday’ is actually an US tradition since at least the early 1960s, being the day after Thanksgiving when retailers throw open their doors and offer large bargains to entice shoppers and kick off the Christmas and holiday retail season. The Oxford English Dictionary says that one reason it is called ‘Black Friday’ is because it is the first…

Australian shorn wool production down by 10.8% in 2018/19

19 November 2018
The Australian Wool Production Forecasting Committee met on Wednesday 14th November to review its forecast for the 2018/19 season. As I said in the Weekly Newsletter of 12th October, the Committee decided to bring forward its meeting from December to November, partly in response to concern around the world about the wool supply available from Australia this season. The new forecast from the Committee is that shorn wool production will be 305 mkg in 2018/19, down by 10.8% on 341 mkg in 2017/18.…

The End of the 2016-2018 Merino Price Supercycle

12 November 2018
The 9th February edition of the Weekly Newsletter covered the Merino price Supercycles in the past 30 years. These Supercycles differ from the regular price cycles that the wool market experiences - from trough to peak of about 7-9 months followed by a slide to a new trough. These regular cycles are driven by stocking and destocking decisions within the wool textile industry. Every so often we see a Supercycle, one which goes for much longer and involves a much greater increase in prices. The…

Micron price premiums for superfine wool fall

07 November 2018
Since the start of the 2018/19 season to 2nd November, the EMI fell by 164 cents. There have been falls across all microns with the exception of the 32 Micron Price Guide, which has lifted by 6% (from a very low base). The largest fall has been recorded for the Merino Carding Indictor, which is 410 cents or 27% lower. Of the main fleece types, the biggest falls have been for wool of 16.5 micron and finer, which is down by 415 cents (or 14%) since the start of the season. The broad Merino wools…

Chinese economic growth dips on back of slower domestic consumption

01 November 2018
The latest data on Chinese economic growth shows that the growth rate for the massive Chinese economy fell to 6.5% for the third quarter of 2018, down by an annualised growth rate of 6.7% in the second quarter. This is the slowest annualised growth rate that China has recorded since the Global Financial Crisis a decade ago. The growth rate was dragged down by weaker factory activity and lower infrastructure investment. Note that the Chinese economy is still growing at a relatively strong pace…

Consumer confidence keeps rising in US, but softens in Europe

01 November 2018
We are heading into the Autumn/Winter season in the Northern Hemisphere. This period, between October and January, is the most important for the volume of wool clothing sold annually in the major retail markets of China, the US, Japan, Italy, the United Kingdom, Germany, France and Korea. A key indicator of how retail sales may go is consumer confidence in these countries. If consumers are confident, they are far more likely to spend, and spend on higher priced products, including wool…

Wool declared as NM, PR or CM closes in on 50% of offerings

15 October 2018
The latest statistics on mulesing status from AWEX (sourced from the National Wool Declaration) shows that in the first quarter of the 2018/19 season that there was yet another lift in the proportion of wool offered in Australia and declared as Non Mulesed (NM), Pain Relief (PR) or Ceased Mulesing (CM). This wool accounted for 48.6% of all first-hand wool offered at auction in the July to September period. This compares with a share of 43.4% in the July-September 2017 period. NM-declared wool…

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The National Council of Wool Selling Brokers of Australia

 

News Flash

The Australian Wool Production Forecasting Committee met on Wednesday 14th November to review its forecast for the 2018/19 season. As I said in the Weekly Newsletter of 12th October, the Committee decided to bring forward its meeting from December to November, partly in response to concern around the world about the wool supply available from Australia this season. The new forecast from the Committee is that shorn wool production will be 305 mkg in 2018/19, down by 10.8% on 341 mkg in 2017/18. This compares with the Committee’s forecast in August of 322 mkg. The Committee reduced the production level after considering the industry data for the first four months of the season. AWTA tests to the end of October were down by 9.7% for Australia and AWEX data on first hand offerings for the season to date were 13.3% lower. Some of this decline will be due to wool that was sold out of stock last season which is not available this year. Allowing for this and the tough seasonal conditions in New South Wales, Queensland, parts of South Australia, Victoria and Western Australia, the Committee decided to reduce its forecast. The lower production is due to both a decline in the number of sheep shorn and in the annual average weight of wool cut per sheep.

Further details and articles on Australian wool exports and wool prices in Australia are included in full edition of the Weekly Newsletter, available to NCWSBA members.

National Council of Wool Selling Brokers of Australia

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