Sales will be held in Sydney, Melbourne and Fremantle next week, when 44,300 bales are currently rostered for the last sale before the mid-season break. There was no comparative sale in Week 2 last season.
South African sales are in recess until 20 August.
The National Wool Production Forecasting Committee met yesterday. Theirs forecast for 2007/08 was 400 mkg, compared with the last forecast of 405 mkg in March and production of 430 mkg in the previous season. The forecast for 2008/09 was also revised downwards from the March estimate. In this case from 405 to 385 mkg, reflecting the deteriorating seasonal conditions and the rising prices for other farming enterprises.