The statistics on wool tested by AWTA in June and for the full 2015/16 season shows a sharp 21% drop in the weight of wool tested in June across Australia compared with June 2015. This is no surprise after the 27% year-on-year jump in June 2015. It brought the weight of wool tested in June this year back to the levels seen in 2011/12 through to 2013/14.
For the full 2015/16, AWTA tested 7% less wool than in 2014/15. This is in line with the most recent forecast from the Australian Wool Production Forecasting Committee. It must be remembered, however, that the weight tested in 2014/15 was inflated by wool released from on-farm stocks as a result of the surge in wool prices in June 2015. The drop in wool tested this season may therefore overstate the actual decline in production.
Full details including a chart showing the total weight of wool tested by state for 2015/16 compared with recent seasons is contained in last week's NCWSBA Weekly Newsletter. Available to NCWSBA members.