China'S Demand Will Continue To Boost The Australian Wool Market Next Year.
December 28, 2011, Australian wool industry
Analysis
The division predicts that China's strong demand for Australian wool and its tight supply will accelerate the price of wool next year.
Although the price of wool fell somewhat within a few weeks before Christmas vacation, the closing price of the rest market remained at a high point.
The year-on-year data show that the price of crude wool has risen this year.
By the middle of December this year, the auction price of all coarse wool with fineness of 19 microns and over 19 microns was higher than the closing price at the beginning of the year, and the coarse branch with fineness of more than 19 microns.
wool
The price has increased by 32%.
However, compared with a year ago, the price of fine count wool with a fineness of less than 19 microns fell, of which 17.5 micron wool prices fell by 8.1%.
At present, wool producers, exporters and processing enterprises are anxiously waiting for the wool to be opened next month.
market
Trend.
Peter Morgan, executive director of the Australian wool processing and Export Council, said buyers will still face tight supply next year.
He said that due to the tight supply of the market, the new wool and stock pressed wool in the pasture this year will come into the market almost at the same time. This will lead to a tighter supply of wool in 1-6 months in 2012 and is expected to be lower than the corresponding supply in the same period in 2011.
He pointed out that China's domestic wool market may continue to rise, but cotton prices will go down, which may have a negative impact on the wool market.
In addition, global economic confidence will also have an impact on the wool market and its trend.
Mr. Morgan also said that the fall in the price of superfine wool may not be attributed to the debt problem of the eurozone member states, because Italy, as a heavy debt burden, is still the biggest buyer of superfine wool.
He also thinks that the price of wool rose last year, perhaps because of the rebound after a few years of market slump.
Meanwhile, National Australia Bank predicted that the price of wool in 2011/2012 will reach an average of 11.39 Australian dollars / kg.
So far, the Eastern market has reached an average price of 12.33 Australian dollars / kg this year, up 3.02 Australian dollars / kg compared with the same period last year.
Khan Horne, general manager of the Agriculture Department of the National Bank of Australia, said that the price of Australian wool will remain at a record high next year, but will face considerable headwinds.
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