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Frequently Asked Questions

A series of answers to frequently asked questions is available to help woolgrowers use Woolcheque with confidence. Click a question to read a detailed answer.

1. What is Woolcheque?
2. Who maintains the price estimates on the site?
3. Which Region do I belong to?
4. What is a WSA and how can I find out what mine is?
5. Which yield should I put into the worksheet?
6. How often are prices updated?
7. Does the "Find auction lots" function cover all wool offered in Australia?
8. How do Woolcheque prices relate to my wool broker's valuations or my auction sale prices?
9. What is the difference between the premiums and discounts provided by Woolcheque and the weekly AWEX P&D report?
10. How do I get up-to-date market reports?
11. How are the averages that are on the bottom of the worksheets calculated?
12. How does the site convert from a clean price to a greasy price?
13. Is there a time limit when using Woolcheque?
14. Are the prices a gross or net figure?
15. How does Woolcheque protect my privacy?
16. How soon can I access my presale lot data on Woolcheque?

 

1. What is Woolcheque?
Woolcheque is a wool pricing tool for Australian woolgrowers funded by AWI. Woolcheque allows you to quickly price lots against daily market values, as well as view similar lots sold at auction to verify the price estimates. It explains different wool characteristics, shows historical trends, and offers tips that may be useful to woolgrowing enterprises.
2. Who maintains the price estimates on the site?
The Woolcheque site is maintained under contract by the Australian Wool Exchange (AWEX). AWEX is responsible for the running of wool auctions as well as providing Market Information services to wool trade participants and others. Their large auction database provides the basis for the prices on this site.
3. Which Region do I belong to?
Woolcheque data is derived from auction data from the following centres:
Northern: Sydney
Southern: Melbourne
Western: Fremantle
4. What is a WSA and how can I find out what mine is?
WSA is short for Wool Statistical Area. Each state is divided into a number of Wool Statistical Areas for statistical and data collection purposes. WSAs were originally drawn by the Australian Bureau of Statistics (ABS) and are widely used in the wool trade to define the general source of wool. WSAs are not necessarily aligned with shire boundaries or postcodes and some larger geographical areas may have multiple WSAs, e.g., the New England region of NSW is N02 and N03. Find your WSA on sale details, by asking your wool broker or advisor or by visiting the Wool Statistical Areas (WSA) section on the AWEX website.
5. Which yield should I put into the worksheet?
The pricing calculator uses exclusively the Schlumberger Dry Yield. Carding types (Locks, Crutchings, etc.) are often quoted in Scoured or Carbonising yields. However, these yields are not readily available to woolgrowers. Check your account sales from your wool broker for an estimate of your yields, or use the 'Find auction lots' function to find your clip data from last season.
6. How often are prices updated?
The pricing tables on Woolcheque are updated daily to give you the latest price estimates on your clip.
7. Does the 'Find auction lots' function cover all wool offered in Australia?
The 'Find auction lots' tool searches the AWEX database containing all lots offered at auction. This includes all the brokers that utilise AWEX auction services, as well as lots that are offered through the AWH auction (Elders, Landmark, etc.). The search function will not find lots that are sold privately by any of these wool brokers, including any wool that is sold through electronic offer boards.
8. How do Woolcheque prices relate to my broker's valuations or my auction sale prices?
Woolcheque prices are estimates based on historical auction data only, with daily estimates based on prices achieved for all wool of that type sold on the last auction sale day for your region. Valuations from your wool broker or advisor generally take into account characteristics of your clip compared to other wools sold on that day. Wool brokers also apply their understanding of anticipated market movements to give you an estimate of what your wool may make in any future sale. Woolcheque does not do this and hence you may prefer to seek advice from your wool broker or advisor. Please read our market disclaimer for more information.
9.

What is the difference between the premiums and discounts provided by Woolcheque and the weekly AWEX P&D report?
The weekly AWEX P&D (Premium and Discount) report is produced for each region, i.e., north, south and west. It contains clean prices for the major fleece types, skirtings, lambs, locks and crutchings. It also contains relevant premiums and discounts for a range of variables, e.g., colour, VM, strength, cotts, etc.
The Woolcheque price is also calculated using premiums and discounts, however the technique is slightly different. Multiple discounts on a line of wool are not necessarily best priced by deducting all of the discounts from the base price. Instead, Woolcheque attempts to replicate market behaviour by ranking the discounts from largest to smallest in value. The largest discount will always be used, however where three or four deductions are present, only portions of subsequent discounts may be used. The final price will rarely be exactly the same as the AWEX P&D report, but is the most accurate way of estimating prices.

Example:

A line of wool such as a good topmaking fleece line which is part tender, has light colour and cott (AWEX ID type MF5S.W1H1C1) would incur a number of discounts using the Premium/Discount approach:
W1 (part tender) 30 cents
H1 (light colour) 20 cents
C1 (light cott) 15 cents

In theory, this line would be discounted by 65 cents off the base price; however the actual discount at auction may only be 40 cents. Buyers often downgrade such a lot to a 'secondary type' particularly where discounts are large. When this wool is priced using Woolcheque, the discount would be 40 cents, not the cumulative total of 65 cents.

The most important part of Woolcheque is the actual clean/greasy price estimate. The premiums and discounts are only a guide.

More information.
10. How do I get up-to-date market reports?
Receive regular market reports by fax, email or SMS by subscribing to one of these services from AWEX. Visit www.awex.com.au or call 02 9428 6100 for more information.
For ad hoc market reports, retrieve reports via poll-fax on 1902 942 070, or a recorded message on 1902 942 045.
11. How are the averages that are on the bottom of the worksheets calculated?
The totals (weights and total value) are the sum of the lots that have the "Incl" check-box at the left of each lot ticked. The averages (all test results as well as clean and greasy prices) are weighted by clean kilograms, and are separated into three groups:
  • Fleece - all adult Fleece wool excluding MWF (lambs and weaners).
  • F.P.B. - fleece, pieces and bellies.
  • All - all lines of wool.
12. How does the site convert from a clean price to a greasy price?
The totals (weights and total value) are the sum of the lots that have the "Incl" check-box at the left of each lot ticked. The averages (all test results as well as clean and greasy prices) are weighted by clean kilograms, and are separated into three groups:
  • Formula to convert clean to greasy: Clean price multiplied by yield, divided by 100.
  • Formula to convert greasy to clean: Greasy price divided by yield, multiplied by 100..
13. Is there a time limit when using Woolcheque?
Yes. To maximise performance for all users, the Woolcheque session expires after one hour. If you have not entered, edited, priced and/or saved data in the worksheet within one hour, that session expires. If you leave your computer for any length of time, save your worksheet in the '.awi' file format so you can reload your information at a later time and not lose any data.
14. Are the prices a gross or net figure?
All prices represent a gross valuation if the wool was sold at auction, exclusive of GST. There are a number of charges not taken into account that will be deducted before you receive your proceeds. These include wool tax, testing charges, wool broker commission, warehousing and insurance.
15. How does Woolcheque protect my privacy?
Woolcheque uses a combination of your brand and wool classer stencil number to limit the chances of other users viewing the details of your clip. The wool classer stencil number provides some security although this number will sometimes be known by others, particularly if you use an external professional classer. However, only publicly available wool data such as test results and appraisals are available for retrieval on this site. All of these details are published in sale catalogues which are freely available to anyone visiting an auction showfloor.
16. How soon can I access my presale lot data on Woolcheque?
Presale lot data can be accessed two to three days prior to the day you are rostered to sell your wool. Availability depends on the region or selling centre and the day of sale.

For a full privacy statement view the Privacy statement.