Australian Wool Innovation Limited (AWI) presented the grower stocks update of The Australian Wool Testing Authority (AWTA).
Despite a significant decline in AWTA test volumes for the quarter to the end of September 2005, Woolmark estimates that in-store grower stocks have still increased over this period.
For the first quarter of 2005/06, AWTA tested volumes declined by 7.7 percent, while Australian auction and non-auction sales declined by 9 percent and 43 percent respectively, counteracting the decline of new wool into the system.
Woolmark estimates 563,000 bales were sold over this period, with the net result a 34,000 bale increase in in-store grower stocks over the last quarter. This indicates a more rapid increase in grower in-store stocks than the previous season.
Using the same methodology, the increase in grower stocks at 30th September 2004 was estimated at 15,000 bales compared with 30th June 2004.
The larger increase in in-store stocks between July to September 2005 versus July to September 2004 is also consistent with AWEX reported figures, but contrasts with AWTA figures, which point to only a very modest increase in grower stocks for the first quarter of 2005.
The Australian Wool Testing Authority was established in 1957 by the Commonwealth Government of the day in response to requests from the Australian wool industry. Royal Assent was given to the enabling legislation to create the Australian Wool TestingAuthority (AWTA) as a statutory authority reporting to the Minister for Primary Industry on 12th September, 1957.
Research and development organization first established as a subsidiary of Australian Wool Services in 2001, Australian Wool Innovation Limited (AWI) became a fully independent public company limited by shares and owned by Australian woolgrowers in 2002.
Australian Wool Innovation Limited
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