Broker Award

The recognition and promotion of excellence in wool broking


Get your wall chart with Australian wool industry data from 1979


Education/information on the Australian wool industry


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Price premium for 18 micron wool falls back

19 March 2018
The price premium for 18 micron wool over 21 micron wool has fallen back in 2017/18 to date. The premium currently stands at 24% after climbing throughout 2016/17 to a peak of 47% in April 2017. The premium for 18 micron wool has been eroded this season as a result of a faster increase in the price for 21 micron wool compared with that for 18 micron wool. So far this season, the 18 micron price guide has increased by 9%, while the 21 micron price guide has lifted by 20%. In 2016/17, the 18…

ABARES’ very positive outlook for wool

12 March 2018
ABARES, the Australian Government’s agricultural forecasting and research agency, released its new five-year forecasts for Australia’s agricultural industries on 6th March. It is very bullish about wool after the price rises in the past 12 months. It now predicts that the EMI will lift from a season average of 1,630 c/kg this season to an average of 1,700 c/kg in 2018/19 and continue to rise to 2,015 c/kg by 2022/23. ABARES says that the predicted lift in the EMI “…reflects strong demand for…

NCWSBA has reservations about WoolQ

06 March 2018
There are reservations among Australian wool brokers about Australian Wool Innovation’s development of WoolQ, according to the National Council of Wool Selling Brokers of Australia. These reservations raise questions about why AWI has agreed to fund the development of WoolQ. John Colley, President of NCWSBA, said that the Board of NCWSBA discussed WoolQ and expressed concerns about why AWI had decided to proceed with its development.“The Australian wool market is thriving, as can be seen by the…

Accelerating global economic growth driving commodity prices

05 March 2018
The rise in wool prices in Australia has been driven in part by the coordinated acceleration in economic growth in the US, Europe and Asia. This has helped push the prices for industrial commodities steadily higher, including wool. Over the past ten-year or more, the trends for each commodity follows the same, overall ebbs and flows. For example, the current price rise for Australian wool is following the general rising trend in prices for industrial commodities such as metals and oil. No doubt…

International wool price comparisons – Merino up, broad wool languishes

26 February 2018
It is interesting to compare the recent trends in international wool prices. Merino wool prices continue to power ahead to new heights, with no signs yet of sliding. Meanwhile, prices for medium Crossbred wool from Australia have recovered a little from the lows seen at the start of 2017. In contrast, prices for broad Crossbred wool from both NZ and the UK stumble along at 8-year lows, with not much sign of an improvement. However, I think that a recovery may be close at hand. As I reported in…

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.…

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The National Council of Wool Selling Brokers of Australia


News Flash

  • There are reservations among Australian wool brokers about Australian Wool Innovation’s development of WoolQ, according to the National Council of Wool Selling Brokers of Australia. These reservations raise questions about why AWI has agreed to fund the development of WoolQ.

    John Colley, President of NCWSBA, said that the Board of NCWSBA discussed WoolQ and expressed concerns about why AWI had decided to proceed with its development.
    “The Australian wool market is thriving, as can be seen by the remarkable rise in wool prices over the past 18 months. This rise has brought greatly improved profitability to Australian woolgrowers. It is underpinned by the robust competition in auction rooms around Australia.”

    “The bidding in these auction rooms is intensely competitive and fully transparent, as any grower who attends the auctions or receives the daily market reports from Australian wool brokers and from AWEX can see.”

    Mr Colley continued, “Despite claims that there is ‘market failure’ in our competitive wool selling system, it is hard to see where those market failures exist. There are none of the classic economic measures of market failure: there are many brokers and buyers who compete intensely; there are few barriers to entry to becoming a broker or a buyer; information is freely available; and there are clear property rights to facilitate the transfer of ownership of wool.”

    “Furthermore, there are already existing digital services for elements proposed by AWI to be part of WoolQ, such as the woolclasser e-speci and electronic trading of wool”, he said.
    “With regard to the e-speci, we understand that AWEX and AWI are each developing their own, competing e-speci apps. NCWSBA is concerned that two industry-funded organisations are separately developing their own e-speci apps, rather than working collaboratively. This seems to be a waste of resources.”

    According to AWI’s own assessment, released in June 2017, WoolQ will bring a net benefit of $38 million over 15 years. This equates to just $1.60 per bale per year for all wool sold in Australia, or only 0.1% of the average value of a bale of wool.

    “AWI’s stated aim when it initiated the Wool Selling System Review in 2014 was to improve the returns that woolgrowers receive for their wool”, Mr Colley said.
    “Yet AWI’s own analysis suggests that the WoolQ will only bring a net benefit of 0.1% of the value of a bale of wool. How does this return justify the spending of the $3.6 million that AWI says it will spend to develop WoolQ? It would be much better spent in reducing the cost of shearing, which accounts for over 70% of the cost of getting wool from the sheep’s back to the ship.”

    NCWSBA represents the majority of Australian wool brokers, with members accounting for around 90% of wool sold at auction in Australia in 2016/17. It is the only national organisation representing Australian wool brokers in Australia and internationally. More details about the organisation can be seen at www.woolbrokers.org.

    Wool brokers in Australia provide an extensive range of essential services to the Australian woolgrower, including finance, advice on marketing, sheep selection, transport, handling and storage of wool, upfront payment of all costs for the sale of wool and guaranteed payment for their wool.

    John Colley, President
    Mobile: 0417732601

    Chris Wilcox, Executive Director
    Mobile: 0419344259.
    Email: chris.wilcox@woolindustries.org

National Council of Wool Selling Brokers of Australia



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