News

The Federation of Australian Wool Organisations (FAWO) has launched the Australian Wool Industry Medal. Robert Ryan AO, the chairman of FAWO, launched the Medal at the Sydney Royal Easter Show on Friday 7th April. The Medal aims to recognise men and women who have made an exceptional and sustained contribution to the Australian wool industry. National Council of Wool Selling Brokers of Australia is a member of FAWO and I have been involved in development and preparation for the new Award. There…

The NCWSBA Broker Award for 2017 has been launched! Sponsored by Fairfax Agricultural Media and AWTA, the Award recognises excellence in wool broking by a younger member of our industry – be it client servicing, auctioneering, innovation or other aspects of wool broking. This is the sixth year that it has been offered. The Award winner this year will be granted an all-expenses paid trip Hong Kong to attend the 2018 IWTO Congress in April-May 2018. Arrangements will also be made for the Award…

The International Wool Textile Organisation has announced that applications for the Young Professionals Programme at the IWTO 2017 Congress are now open. Open to individuals under the age of 35 working at any stage of the wool supply chain, the IWTO Young Professionals attend the Congress at a reduced rate.

Wool exports from Australia surged in April according to data from the Australian Bureau of Statistics which was released yesterday. The volume of wool exported was 22% higher in April compared with April 2016 and the value of exports surged by 50% year-on-year. By destination country, the big increases in the volume of exports were seen for China (+25%), Italy (+110%), Taiwan (+39%) and Thailand (+480%). Exports to Malaysia recorded a sharp decline of 69%, but this was one of the few countries…

Consumer confidence in the major wool consuming countries has risen over the past few months according to the latest data available. This should set a platform for increased consumer spending, although there are few signs that it has yet done so for clothing sales. This lift in consumer confidence is in line with improved economic conditions and predictions. Consumers in the US are the most confident they have been since 2000. Consumers in the EU and China are also the most confident since…

In the past four weeks, superfine wool prices have dropped by between 7% and 8%, while prices for medium Merino wool (21-22 micron) have eased by 1%-2%, the 23 micron price guide has risen by 1% and fine Crossbred wool has lifted by 1%-2%. These different trends have dampened the price premium for fine and superfine wool relative to other microns. The premium for 18 micron wool over 21 micron wool peaked in April at 47%, and has slid back since then. Even so, the current premium of 40% is more…

Merino wool prices have enjoyed a magical run so far in 2017, particularly wool of 18.5 microns and finer. Since the start of the calendar year to date, the EMI has risen by 10% In A$ and 12% in US$, while the 18 Micron Price Guide (MPG) has risen by 23% and 25% respectively and the 16.5 MPG is up by 30% in both A$ and US$. In contrast, medium Merino prices have risen by smaller amounts, with the 21 MPG lifting by 5% and 6% respectively so far in 2017. Prices for the major textile fibres which…

The latest trade data from the five major wool exporting countries shows the strong contrast between demand for wool those countries producing Merino wool and those producing broader, Crossbred wool. Exports from Australia and Argentina are up this season to March, while exports from South Africa are slightly down. In contrast, exports from NZ and Uruguay are down substantially. No wonder the representatives from those countries attending the recent IWTO Congress were disappointed with current…

Data on Australian wool exports for February from the Australian Bureau of Statistics shows that the volume of wool exports declined by 10% in February, but the value of exports lifted by 1% for the month compared with a year earlier.For the 2016/17 season to date, Australia’s wool exports were 6% higher by weight and 12% higher by value than for the same period in the 2015/16 season. The main reason for the increase in weight terms is a 13% increase in exports to China. In terms of exports by…

Data on the volume of wool tested in March from the AWTA shows a strong 14% year-on-year jump in the weight of wool tested for the month. The increase has been inflated a little as the Easter break in 2016 was in the last few days of March, which reduced the number of working days, while the Easter break is in mid-April this year. Given the sharp divergence in prices for superfine wool and prices for medium Merino wool in recent months, it is interesting to see what has happened to the supply…

Merino wool prices in Australia have risen sharply in this season, despite this week’s decline. What has happened to wool prices in some of the other major wool producing countries? The contrast between superfine wool prices in Australia with prices for other wool’s is stark, particularly for broader wool from NZ and the UK. The Australian Eastern Market indicator is currently 19% higher than at the start of the 2016/17 season, while the 18 Micron Price Guide is up by 43%. The South African…

While there has been much talk about increased buying by China as the driver of wool prices, one factor helping boost demand for Merino wool prices is the state and outlook for the global economy. To my mind, it is economic conditions, good or bad, that is the bedrock of wool prices and particularly for Merino wool. The good news for prospects for wool prices is that world economic conditions are improving and for the first time in seven years it seems that the advanced countries and developing…

The Winner of the 2016 NCWSBA Wool Broker Award was announced at the Wool Week dinner in Melbourne on 25th August. The Winner of the 2016 Award is Lachlan Sutton of Elders. In making their decision, the Selection Panel noted they found the calibre of all three presentations to be excellent. They also found it difficult to separate the finalists and that all would be very worthy winners. The Panel noted that some of the most pleasing aspects from the finalists were: their obvious passion and…

The winner of the 2015 National Council of Wool Selling Brokers of Australia’s Wool Broker Award to recognise excellence in wool broking in Australia has been announced. Matthew Thomas of Landmark was selected by the independent Selection Panel as the winner. Andrew Howells of Elders and Todd Clark of Schute-Bell were the other two Finalists. The independent Selection Panel made their decision after the three Finalists gave presentations to at the NCWSBA Annual General Meeting held on Thursday,…