The latest data on Australian wool exports was released on 7th November. It shows that wool exports from Australia dropped sharply in September compared with a year earlier. The weight of wool exported in September was 35% below the levels in September 2018, while the value of exports was down by a massive 56%. Incredibly, this monthly year-on-year decline by value is the largest seen since June 1990!
Exports to the four largest export destinations were down in September by between 27% and 45% in weight terms and by between 48% and 58% by value. Exports to China were down by 58% by value and by 37% in volume. For the first quarter of the 2019/20 season the weight of wool exported was 26% lower than a year earlier while the value of exports was down by 41%. These declines demonstrate how sharply demand has fallen in recent months.
Details are provided in this week’s full edition of the NCWSBA Weekly Newsletter. Available to NCWSBA members.