October 2016 ASI Wool Journal Available
October 7, 2016

The October 2016 issue of the ASI Wool Journal is available with headlines that read Weaker Economic Conditions in the Wake of the Brexit Vote, China's Raw Wool Imports Drop Sharply, Australian Wool Production to Recover?, Fine Wool Prices Outperform Others and Brexit Vote Could Affect New Zealand Lamb Exports to the United States.

The American Sheep Industry Association commissions Chris Wilcox, a leading analyst and commentator on the global wool industry, to produce the ASI Wool Journal, which offers insight into the U.S. and global wool markets.

In his Sheepmeat Market Trends, Drivers and Prospects column, Wilcox states, "The vote in June by the voters of the United Kingdom to leave the European Union (Brexit) could have a significant effect on the destination of lamb exports from New Zealand. As New Zealand is the second largest supplier of frozen lamb to the United States, this could result in increased exports of New Zealand lamb to the United States.

"The UK is the second largest export market for New Zealand lamb exports with a 15 percent share of New Zealand's exports in 2015-16. In contrast, the UK is only a relatively small destination for Australian lamb exports. New Zealand is given preferential access to the European Union through a 280,000 ton tariff-free quota. Half of this goes to the UK market. Furthermore, 90 percent of the UK's exports of sheepmeats go to the EU. It is unknown what the specific arrangements will be after Brexit, but it is possible that UK access to the EU is more restricted. As well, the current tariff-quota arrangement for New Zealand lamb meat to the UK may be renegotiated."

Read the entire story in the October ASI Wool Journal at www.sheepusa.org/NewsMedia_OtherPublications_AsiWoolJournal.