CCWG Wool Market and Business Update – Fall 2019
2018 / 19 Wool Market Update
The wool market has been experiencing quite a rough ride for the current wool marketing year. During the first quarter the market seemed to be on track for stable conditions with both fine wool and crossbred types achieving reasonable prices and demand. There were expectations at the time that good progress was being made for a new China / USA trade agreement.
This situation however was short lived from April onwards as a number of factors came into play. Traditionally the market for wool is at its best and consumer confidence is greatest when there is positive growth in global economies and a stable worldwide political environment. The current situation of widespread indecision and uncertainty has had a detrimental effect on all value chain partners within the entire wool textile industry. China is the world’s largest market for woolen garments of which approximately 45% is for domestic consumption and the remaining 55% for export. The escalation of the China / USA...