Home / Knowledge / News / Textiles / Weak rand supports wool market
Weak rand supports wool market
22
Sep '11
The weakening rand supported the wool market at this week's sale and Cape Wools' Merino indicator gained 1.1% to close at R97,61/kg (greasy). This is 0.3% higher than the highest level last season.

With investors fleeing emerging market economies, the rand was struggling against the major currencies and fell to its lowest level against US dollar in many months. At R7,72, it was down 5.4% against the greenback compared with last week's average rates, while at R10,57, it was 5.5% weaker against the euro.

A total of 7 538 bales was offered of which 97.5% was sold. Major buyers were Modiano SA (2 069 bales), Standard Wool SA (2 008 bales, Lempriere SA (1 540 bales) and Stucken & Co (1 347 bales).

Most long fleece categories posted price increases with 19 microns posting the biggest increase.

The average clean price for the different categories good top-making (MF5), sound, long fleeces (less than 1% seed content) were as follows: 19 microns gained 1.8% to close at R119,24/kg, 19,5 microns were up 0.2% to R111,37/kg, 20 microns rose 0.9% to R106,41/kg, 20,5 microns were 0.9% dearer at R103,24/kg; 21 microns gained 1.1% to close at R101,93/kg, 21,5 microns were 1.2% dearer at R99,83/kg and 22 microns rose 1.3% to close at R97,12/kg.

Approximately 5 400 bales will be offered at next week's sale.

Capewools


Must ReadView All

Textiles | On 26th Jul 2017

Vietnam’s textile & garment exports cross $13bn in H1

Vietnam earned $13.... billion from textile and garment exports in...

Textiles | On 26th Jul 2017

BCI releases 2016 BCI annual report

The Better Cotton Initiative (BCI), a not-for-profit organisation...

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,...

Interviews View All

Karan Toshniwal
Orange O Tec

Contemporary industry is paying more and more attention to the...

DK Sharma
Velocity Apparelz

We constantly communicate with employees at all levels

Mandeep Nagi
Shades of India

Women value something that is unique and has a flavour of India

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Lynda Kelly
Suominen Corporation

Suominen Corporation is a manufacturer of nonwovens as roll goods for...

Kai Poehler
Voith Paper GmbH & Co. KG

The glass mat industry is growing by five to eight per cent annually. Kai...

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

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