Home / Knowledge / News / Textiles / South African wool prices tumbles
South African wool prices tumbles
29
Sep '11
Wool prices tumbled at this week's sale as the global uncertainty took its toll and the Cape Wools Merino indicator dropped 6.1% to close at R91,68/kg (clean).

The market also took its lead from Australia where prices have been falling since mid September.

Wools from areas where Rift Valley Fever had occurred were heavily discounted, including bins and groups, which further contributed to the decline.

The rand was trading at R7,80 against the US dollar, which was down 1% from last week's average rate. At R10,63, it was 0.6% weaker against the euro.

It was a fairly small offering with only 5 346 bales offered of which 79% was sold – the lowest sales percentage this season. Major buyers were Standard Wool SA (1 414 bales), Stucken & Co (1 082 bales) and Lempriere SA (855 bales).

Prices declined across the board but wools of 19 microns and finer were the worst affected.

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 dropped 6.8% to close at R111,17/kg, 19,5 microns were down 5% to R105,82/kg, 20 microns declined by 5.6% to R100,43/kg, 20,5 microns were 5.2% cheaper at R97,92/kg; 21 microns weakened by 5.6% to close at R96,21/kg, 21,5 microns were 4.8% cheaper at R95,08/kg and 22 microns fell 4.7% to close at R92,54/kg.

Approximately 7 500 bales will be offered at next week's sale.

Cape Wools

Must ReadView All

Textiles | On 25th May 2017

Huntsman and Clariant to have merger of equals

Huntsman Corporation and Clariant have announced that their boards of ...

Apparel/Garments | On 25th May 2017

AAFA reinforces opposition to Border Adjustment Tax

The American Apparel & Footwear Association (AAFA) has reinforced its ...

Courtesy: CBRE

Apparel/Garments | On 25th May 2017

European cities preferred for retailer expansion: CBRE

European cities were the preferred new destination for international...

Interviews View All

Smita Murarka
Amanté

‘There is huge demand in the Indian lingerie market for non-wired styles.’

Janak Dhamanwala & Sunil Dhamanwala
Jansun

Moving towards sustainability is also a social change

Mandeep Nagi
Shades of India

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

Suresh Patel
Sidwin Fabric

Sidwin Fabric is a manufacturer and exporter of polypropylene textiles and ...

Kevin Nelson
TissueGen

Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...

Mohammad Hassan
Biax Fiberfilm

About one in every 20 patients picks up an infection while hospitalised....

Madhu Jain
Madhu Jain

She grew up in the walled city of Old Delhi, completed her studies, and...

Sonam & Paras Modi
SVA

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

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

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

news category


Related Categories:
May 2017

May 2017

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

SUBSCRIBE


Browse Our Archives

GO


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