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LATEST NEWS

Consumer confidence hits peaks, triggers lift in retail sales

21 February 2018
With Merino wool prices doing so well, it is timely to see what the situation is in the major retail markets for wool and see how retail sales have been going in the Northern Hemisphere Autumn/Winter The good news is that consumers in the major wool consuming countries (the US, countries of the European Union, China, Japan and South Korea)are feeling more and more confident about current economic conditions. Consumer confidence in the US continues to rise steadily and currently sits near the…

A Supercycle for Merino wool prices

12 February 2018
The wool market experiences regular price cycles from trough to peak and then back to a trough. These cycles are driven by stocking and destocking decisions within the wool textile industry and it tales about 7-9 months from trough to peak. Every so often we see a Supercycle, one which goes for much longer and involves a much greater increase in prices. In the past 30 years there have been four such Supercycles and I think the current market is the fifth such Supercycle. The duration of the…

China’s wool clothing product exports up and down in November

06 February 2018
The latest data available from China on its exports of wool products for November 2017 is rather mixed. After the strong rise in exports of wool woven clothing from November 2016 to July 2017, exports have declined for each month over the past four months. There was a 28% drop in November, with declines in exports to all of the major destinations, with the exception of South Korea. Even so, exports of wool woven clothing in 2017 to November was still 63% higher than for the same period in 2016.…

Global cotton prices surge to near four-year highs

29 January 2018
There has been a surge in cotton prices in recent weeks. Cotton prices, as judged by the CotLook A Index (a global benchmark indicator for cotton), have jumped by 18% since mid-November to 94.1 USc/lb (or 207.5 USc/kg). This is the highest level in almost four years (May 2014). The jump has caught observers and analysts by surprise because there are still large stocks held around the world, mainly in China. At the end of the 2016/17 season, stocks were equal to 76% of the annual consumption of…

General rise in global industrial commodity prices

29 January 2018
In addition to a lift in fine wool prices, there has been a general rise in the price for industrial commodities (that is, non-food) in the past 12-18 months. Prices for metals, oil and fibres have all lifted since the start of 2016 (the chart shows prices indexed with January 2016 as the base). Since January 2016, Australian wool prices are up by around 50%, much the same as the lift in metals prices. This is a very impressive lift, but the most significant rise is in oil prices, which have…

Global fibre prices on the rise

15 December 2017
In the past four months, global fibre prices in US$ have mostly lifted steadily, particularly in China. Global cotton prices have risen by 3% but the bigger changes are seen for polyester staple and acrylic. Global polyester staple fibre prices are up 7%, but prices in China are 12% higher. For acrylic fibre, global prices are 9% higher, but in China the price for acrylic fibre is 20% higher than four months ago. While prices for these competing fibres have risen, the price for viscose has…

Australian wool production to lift a little in 2017/18

15 December 2017
The Australian Wool Production Forecasting Committee (AWPFC) has revised its forecast of shorn wool production for the 2017/18 season upwards to 345 million kilograms greasy, a 1.4% increase on its final estimate of 340 mkg for the 2016/17 season. The increase in shorn wool production in 2017/18 reflects an increase the number of sheep shorn as producers respond to the high wool prices. This will be partly offset by a small fall in the average wool cut per head due to drier seasonal conditions…

NCWSBA celebrates the history of wool broking in Australia

30 November 2017
The National Council of Wool Selling Brokers of Australia today opened its inaugural wool broking industry historical display at the Melbourne Wool Selling Centre. The permanent display celebrates the history of the wool broking industry in Australia. NCWSBA President, John Colley, opened the display, saying “The Australian wool industry is an iconic part of Australia’s history and its economy. Wool broking companies have been a vital part of that history and the industry’s contribution to the…

Another week, another record EMI, but not in real terms

13 November 2017
The EMI rose to a record level at the end of 10th November 2017. This record is, of course, before taking into account inflation. It is therefore a bit illusory, because $1 now is worth less than it was 5 years ago, 10 years ago, 30 years ago. Once inflation is taken into account, current price levels are well below the extraordinary peak seen in mid-1988. In fact, the EMI at 1652 c/kg in real terms is a touch below the peak at the end of 2002. One thing to keep in mind, though, is that all…

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The National Council of Wool Selling Brokers of Australia

 

News Flash

  • The Australian Wool Production Forecasting Committee (AWPFC) has revised its forecast of shorn wool production for the 2017/18 season upwards to 345 million kilograms greasy, a 1.4% increase on its final estimate of 340 mkg for the 2016/17 season. The increase in shorn wool production in 2017/18 reflects an increase the number of sheep shorn as producers respond to the high wool prices. This will be partly offset by a small fall in the average wool cut per head due to drier seasonal conditions in some regions, notably in Western Australia.

    Download Media Release Wool Production Forecast December 2017

National Council of Wool Selling Brokers of Australia

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