Home / Knowledge / News / Textiles / Upward trends in wool market
Upward trends in wool market
27
Jun '11
The AWEX Regional Indicators finished 0.4% higher, on average, at sales in Sydney and Melbourne when the US exchange rate rose by 0.2%.

The AWEX EMI and Regional Indicators quietly moved to new highs in Australian (1436¢) and US Currency (1515¢).

The season average for the AWEX EMI (1137¢) is 266¢ (30.5%) above the average to the same time last year.

22,317 bales were on offer in the smallest sale of the season, compared with 26,489 bales last week (when all three regions sold). 6.8% were passed in, comprised of 8.0% in Sydney and 5.8% in Melbourne. Pass-in rates for Merino fleece and skirtings were 8.1% and 7.7%, respectively.

20,808 bales were cleared to the trade.

The US exchange rate was relatively stable, with a small lift on Wednesday after the Greek Government vote of confidence was passed on Tuesday (Greek time) before falling on Thursday and steadying on Friday.

It was another good week. Although there was little overall change in the market, it remained at record levels.

The market opened on a mixed, but overall upwards market on Wednesday. Some very good 17 microns and finer wool sold very well in the South, while the 18 to 19 microns MPGs eased by around 25¢; and 20 to 23 micron MPGs were up by around 8¢, on average. Northern Merino prices were relatively unchanged, on average, apart from a slight easing at 18 microns. Lower VM wools were reported to be in small supply and attracted good competition.

The EMI in US currency (1515¢) has risen by 95.9% since July compared with a 62.8% increase in Australian currency.

The quantities on offer in the last three sales have all been small, ranging between 22,317 bales (this week) and 26,489 bales. It is often said that competition falls away in small offerings. That has not been the case in the current market, with the EMI lifting by 40¢ over the last three sales and moving to a new record high in each week.

It was a another generally good week for skirting types, with good competition for the smaller offering leading to further price rises and another low pass-in rate, despite the presence of a lot of wool in the higher VM ranges this week.

Crossbreds continued in keen demand following their strong performance in last week's sale. Percentage increases in the 28 to 32 micron average AWEX MPGs were all above those for Merino types.

Oddments continued the good run of the last three weeks with strong demand for all types. The average AWEX Merino Cardings Price Guide was up by further 3.7%, taking the rise over the last four sales to 15.2%.

Buyers for China were dominant with good buying support from India, Europe, Taiwan and Korea.

Sales will be held in Sydney, Melbourne and Fremantle next week, when 31,660 bales are currently rostered for sale. Present estimates for the following two sales (Weeks 01 and 02) are 30,048 and 37,300 bales, respectively; a decrease of 15.0% over the three sale period when compared with last year. Sale 02 is the last sale before the mid-year break.
Sales are in recess in South Africa until 17 August.

Click here for more details

Australian Wool Industries Secretariat


Must ReadView All

Courtesy: Michael Kors

Fashion | On 25th Jul 2017

Michael Kors to acquire Jimmy Choo

Global fashion luxury brand Michael Kors Holdings Limited has reached ...

Apparel/Garments | On 25th Jul 2017

VF Corp posts $2.4 billion revenue for Q2 2017

VF Corporation has recorded revenue of $2.4 billion, up 2 per cent,...

Textiles | On 25th Jul 2017

Egypt signs agreement with UNIDO for cotton production

Egypt has signed a €1.5 million ($1.74 million) cooperation agreement ...

Interviews View All

Milind Khandwe
Hindoostan Innovation Centre

‘Modern technical textile is an indispensable tool for science and...

Abhishek Samdaria
Reflete

GST will certainly reduce a lot of paperwork in future

Shawn Honeycutt
Bolger & O'Hearn

‘The Indian market is interesting and rather persistent in seeking new...

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Aditi Somani
Aditi Somani

Aditi Somani specialises in luxury fusion wear with international cuts and ...

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

Sonam & Paras Modi
SVA

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

July 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Thanks for your valuable feedback. Claim your free latest sustainability e-book.


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search



X