Wool prices have fallen sharply in the past few months, particularly in US$ terms. For example, the EMI is down by 30% since January, while the 18 micron price guide has fallen by 27%. What has happened to the prices for other fibres, including wool from other countries? Have they been affected as much by COVID-19 and the lockdowns?
Prices for other fibres have seen sharp falls in prices in the past few months, particularly the prices of man-made fibres. The oil-based synthetic fibres such as polyester and acrylic have fallen by 13% and 21% respectively, although they were already on a steep decline by January as oil prices were slumping. The price for the cellulose-based viscose has fallen by 10%, while cotton prices are down 16%. Chinese cashmere prices have only fallen by 4%, although a colleague of mine from Mongolia tells me that the price of Mongolian cashmere has fallen sharply.
There have been no sales of either NZ or British wool in the past six weeks, so the latest price available for these countries is for March. Between January and March, the NZ broad wool price was down by 15% while the British Wool Marketing Board market indicator down by 26%. And, as the chart shows, this decline was from already very low price levels.
Further details, including charts showing the trends in prices for Australian wool, man-made fibres, cotton, cashmere, New Zealand wool and British broad wool, are provided in this weeks’ edition of the NCWSBA Weekly Newsletter. Available to NCWSBA members.