AWTA last week released the data on wool tested in March. It shows that the weight of wool tested in March fell by 3.9% compared with March 2019. As a result, the year-on-year change for the first three quarters of 2019/20 was a decline of 5.5%. This year-on-year decline continues to be smaller than the Australian Wool Production Forecasting Committee’s November 2019 forecast of a 9.2% drop in 2019/20. The Committee’s forecast anticipated a larger decline for New South Wales than has actually been recorded so far. The forecast declines for both Western Australia and South Australia are also larger than for the season to March. The Committee’s forecasts for Victoria, Tasmania and Queensland are all in line with the year-to-date % change. The AWPFC meet on 29th April 2020 to review its forecast for 2019/20 and also consider its first forecast for 2020/21.
Further details, including a chart showing the % change year-on-year in wool tested in March 2020 and for the 2019/20 season to end March for Australia and by state, compared with the AWPFC’s November forecast, is provided in the full edition of this week’s NCWSBA Weekly Newsletter. Available to NCWSBA members.