Sheep Industry News September 2024

New Zealand accounted for 21 percent and Ireland cap tured a fractional amount (0.4 percent). WOOL MARKET As the Australian wool market approached its annual three-week, mid-year recess, reports showed that buyers were more willing to secure supplies ahead of the break. In July, the weekly number of bales offered ranged from 27,519 to 34,241 with a weekly average of 31,217 for the month, which was about 1 percent above the weekly aver age for June (30,880). During July, weekly prices for the 17 to 22-micron wools were generally lower by about 1 percent to 5 percent when compared to June. Prices in July for 25 to 29-micron wools were mixed but generally showed a weaker tone with prices posting average declines from June of about 1 percent to 3 percent. Average weekly prices for Merino Cardings were down about 4 percent in July compared to June. The weaker tone in prices is partly due to the exchange rate. In July, the average weekly exchange rate between the Australian dollar and U.S. dollar remained unchanged at $0.67 for every Australian dollar.

remaining 1 percent have come largely from Chile. Mutton imports are down 2 percent through the first six months of the year to 29 million pounds compared to the same period in 2023. The decline in mutton imports is due partly to a 12-percent decrease in year-to-date imports from Australia, which were 22.8 million pounds. Mutton imports from New Zealand were up 77 percent through the first six months to 6 million pounds. From January through June, Australia accounted for 79 percent of total mutton imports,

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September 2024 • Sheep Industry News • 7