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LATEST NEWS

Wool price premiums against cotton and synthetics plummets

06 July 2020
Wool prices fell by more in the past year than have prices for the other major apparel textile fibres. One result of this larger decline is that the wool price ratio against both cotton and synthetics has fallen back sharply in the past 3 months. Based on the Eastern Market Indicator (EMI). The drop is particularly marked compared with cotton prices, with the current ratio below the average level seen in ten years between 2010 and 2019. The ratio is at the lowest level since June 2014. It is,…

Australian wool prices fall by more than prices for other fibres in 2019/20

29 June 2020
The fraught and disheartening 2019/20 season is drawing to a close. The season was a confidence-shattering disappointment after the two previous seasons in which prices rose sharply and hit record high levels, with the EMI averaging 1739 c/kg in 2017/18 and 1939 c/kg in 2018/19. Overall, the EMI fell by 605 c/kg from the close of the 2018/19 season to the close of the 2019/20 season, a 35% decline. It was also lower by 430 UScents/kg (-36%), 375 €cents/kg (-36%) and 2801 RMB/kg (-34%). All the…

China’s raw wool demand drops as its wool product exports slump

22 June 2020
The latest data on China’s trade in wool and wool products provides a rather gloomy picture of the trade situation for China’s wool textile industry, reflecting the extremely difficult demand situation given the COVID-19 pandemic. China’s exports of wool products (top, yarn, fabric and clothing) accounts for around half of the raw wool that China imports each year. Regrettably, China’s exports of wool products have slumped in the first four months of 2020. The decline has been most intense in…

Wool brokers back wool industry charity foundation

22 June 2020
The National Council of Wool Selling Brokers of Australia and its members have stumped up in support of the wool industry’s own charity, the Michael Manion Wool Industry Foundation. The money donated by NCWSBA will help the Foundation continue its vital work supporting those in need in rural Australia. The President of NCWBA, John Colley, presented a cheque for $8,000 to the Chairman of the Foundation, Ken Stock, at the Melbourne Wool Selling Centre on Thursday, 18th June. The money was…

All major processing countries cut raw wool demand

15 June 2020
All major processing countries recorded large year-on-year declines in the volume of wool exported to them by the major wool producing and exporting countries in April. Exports to China, the largest destination, saw the smallest decline, down by 31%. Exports to Italy were down by 70%, exports to Germany were 67% lower, exports to ‘other’ European countries were down by 79% and exports to the Czech Republic slumped by 87%. Exports to India fell by 85% while exports to ‘other’ countries (which…

Australian wool test volumes slump in May

10 June 2020
The latest statistics from AWTA shows that the volume of wool tested in May slumped compared with a year ago. The number of bales tested was 28.5% lower than May 2018 and the weight of wool tested was 28.2% lower. That’s the largest year-on-year fall for any month since August 2003. The large drop will, in part, have been caused by the Covid-19 restrictions constraining shearing and a lack of immediacy for growers to get wool to market given the decline in wool prices (in contrast to May last…

IWTO 2020 Congress - Activity levels slump, stocks jump in global wool textile industry

27 May 2020
The International Wool Textile Organisation 2020 Digital Congress was held on 21st to 23rd May. During the pre-recorded Market Intelligence session, Chris Wilcox (NCWSBA Executive Director) gave a presentation on the current situation and the outlook for the global wool industry. He reported the results from the annual survey of wool textile conditions from the IWTO, which are hugely negative for all sectors of the wool textile industry. Each sector, including garment making to weaving,…

COVID-19 causes fall in prices for all textile fibres

18 May 2020
Wool prices have fallen sharply in the past few months, particularly in US$ terms. For example, the EMI is down by 30% since January, while the 18 micron price guide has fallen by 27%. What has happened to the prices for other fibres, including wool from other countries? Have they been affected as much by COVID-19 and the lockdowns? Prices for other fibres have seen sharp falls in prices in the past few months, particularly the prices of man-made fibres. The oil-based synthetic fibres such as…
Consumer confidence
Industry News

Slump in consumer confidence a contributor to demand destruction for wool

11 May 2020
The fall in wool prices in the Australian wool market is unrelenting in response to the destruction of demand caused by the COVID-19 pandemic. The Eastern Market Indicator (EMI) fell by 55 Acents, the fourth consecutive weekly decline, and finished at 1170 Ac/kg, the lowest week ending level in five years. One cause of the demand destruction is a collapse in consumer confidence in most of the major wool consuming countries and regions in April due to the Covid-19 pandemic lockdown. The chart…

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The National Council of Wool Selling Brokers of Australia

 

News Flash

The National Council of Wool Selling Brokers of Australia and its members have stumped up in support of the wool industry’s own charity, the Michael Manion Wool Industry Foundation. The money donated by NCWSBA will help the Foundation continue its vital work supporting those in need in rural Australia.

The President of NCWBA, John Colley, presented a cheque for $8,000 to the Chairman of the Foundation, Ken Stock, at the Melbourne Wool Selling Centre on Thursday, 18th June. The money was collected from the NCWSBA member companies to mark NCWSBA’s Centenary.

“National Council is proud to donate $8,000 to support the work of the Michael Manion Wool Industry Foundation”, NCWSBA President John Colley said. “The Foundation does amazing work to support families in our rural community who are facing serious challenges.”

“Even amid the challenges wool broking companies and the wool industry itself is facing at the moment, we think that it is crucial these rural families and children, who often ‘fall through the cracks’ of Australia’s government support systems, are helped. This grass-roots charity activity by the Foundation is exactly what these families need and we are very glad to do what we can to assist.”

The money donated today by NCWSBA is in addition to the $16,700 that was raised during the charity auction of donated items at the NCWSBA Centenary Reception in February.

In response, Ken Stock, the Chairman of the Michael Manion Wool Industry Foundation, said “We are extremely grateful for the $8,000 donation made by National Council today and also for the funds raised by all in the Australian wool industry in the charity auction for the NCWSBA Centenary reception.”

“People on the land can find it tough at times – they’re at the mercy of the gods and sometimes children suffer because of it. This Foundation is here to support rural families in need due to the likes of illness or accidents. The money donated by the Australian wool brokers through the NCWSBA will help our work to continue in 2020/21. We thank the President, Board and member companies of NCWSBA for their generous support.”

Background

The National Council of Wool Selling Brokers of Australia was established in December 1919 to represent Australian wool brokers at national and international level. It held its first meeting in January 1920. NCWSBA represents the majority of Australian wool brokers, with members accounting for over 80% of wool sold at auction in Australia in 2018/19. It is the only national organisation representing Australian wool brokers in Australia and internationally. NCWSBA member companies are:

Arcadian Wool, Australian Wool Network, BN Proud & Co, Dalgety Wool, Dyson Jones, Elders, Goddard Wool Marketing, HC Wool, Jackson of Geelong, Jemalong Wool, Landini Wool, Landmark, Macdonald & Co Woolbrokers, Michell Direct Wool, Monaro Wool, Primaries of WA, Rhodes Wool, Roberts Wool, Rodwells, Schute Bell Badgery Lumby, TWG Wool, WISS Wool, Wool Auctions Australia, Wool Solutions.

The Michael Manion Wool Industry Foundation was established in 2015 as a reach-out support service for rural families or children in need. The Michael Manion Wool Industry Foundation (MMWIF) runs several fundraising events each year within the wool industry but welcome any donations from the greater farming and agricultural community.

More details about the organisations can be seen at www.woolbrokers.org and www.mmwif.com.au.

National Council of Wool Selling Brokers of Australia

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