Charleville Times in Charleville, Queensland

Substantial wool market setback hits 1996/37 results

Wool sales across Australia and New Zealand show a sharp drop in 1996/37 with total cheque value of £75,56103 and record low prices. Combined Commonwealth and New Zealand turnover fell, while total bales sold eased to about 2.7 million, led by declines in Sydney and Brisbane centres. Despite a thirteenth straight year above a million-bale mark, prices and demand sagged amid weak global wool consumption and carryover of unsold lots. The Sydney and Brisbane figures illustrate the downturn, with declines in value, weight, and per bale averages across regions. Destination data show England remains the largest buyer, while Germany, Italy, and other markets contracted.