Home / Knowledge / News / Textiles / Good week for the fine wools
Good week for the fine wools
Oct '11
The AWEX Regional Indicators finished 0.1% lower, on average, at sales in Newcastle, Melbourne and Fremantle this week when the US exchange rate fell by 0.2%.

The market continued in the steadier pattern of the previous two weeks. The closing EMI was down by 0.2% this week, following the 0.3% fall in Week 15 and the 2.4% fall in Week 14. The EMI, although down by 14.9% since the start of the season, is 24.8% above the same week last year.

43,416 bales were on offer, compared with 40,969 bales last week. 13.1% were passed in, comprised of 15.2% in Newcastle, 12.0% in Melbourne and 12.8% in Fremantle. Pass-in rates for Merino fleece and skirtings were 16.0% and 6.3%, respectively. 37,719 bales were cleared to the trade.

The New Zealand Merino Company also offered 2,045 bales in Melbourne on Wednesday of which 28.2% were passed in.

Differences between the size of the offerings this year and last year have begun to change. This year's early season offerings were well above last year. They were up figure 13.3% after Week 12. The difference has now fallen to plus 9.9% on a progressive basis; and this week's offering was down by 2.7% from last year.

The early season differences were due to the impact of rain delayed shearings in the first three months of last season. There were fewer wet weather interruptions to this year's shearings. The subsequent “catch up” last year in the period from October up to Christmas means that the year-on-year progressive differences will gradually become smaller over the next few weeks.

The US exchange rate has followed an “up one day, down the next” pattern this week, as money markets reacted to varying economic data and sentiment. The major factor over-hanging the global economic scene this week is uncertainty about the outcomes will come from this weekend's meeting of European leaders to address the EU debt problems.

The sale started on a downward note on Tuesday following the softer finish to last week's sale. Falls occurred across all micron ranges in the South, but were less so among the fine wools in Newcastle.

Wednesday's market saw an improvement in confidence and the sale finished with a 1% lift in the AWEX EMI, despite downward pressure from 17 to 18 microns. The greater strength in the market continued on Thursday, but more so in the South and the West, where the Regional Indicators rose by 15¢ and 16¢ respectively and gains of 20¢ to 30¢ occurred in some individual AWEX MPGs.

Overall, it was a good week for the fine wools, given the market pressure at that end of the clip this season and the large quantity of fine wool on offer this week.

Skirtings opened on Tuesday on a steady, or slightly downwards market, but firmed up on Wednesday. Demand was generally good, but was greatest for the lower VM types. This continued into Thursday's sales when strong competition led to a further upward movement in prices. The solid demand resulted in a low pass-in rate of 6.3% for the week.

Must ReadView All

May 31 deadline for registration of chemicals under REACH

Textiles | On 23rd May 2018

May 31 deadline for registration of chemicals under REACH

May 31 is the final deadline for companies to register all chemicals...

US cotton production projected to decline in 2018: USDA

Textiles | On 23rd May 2018

US cotton production projected to decline in 2018: USDA

US cotton production is forecast at 19.5 million bales, nearly 7 per...

Pakistan's textile exports up 8.13% in July-April FY18

Textiles | On 23rd May 2018

Pakistan's textile exports up 8.13% in July-April FY18

The value of textile and garment exports from Pakistan increased by...

Interviews View All

Prabu Mohanram
Balavigna Weaving Mills Pvt Ltd

The biggest challenge that the weaving industry faces is high price

Victor Chao

‘In future, clothing boundary lines will become increasingly blurred.’

Textiles & allied industry

Textiles industry is always in the forefront in accepting latest technology

Abhishek Pachauri

Reckon Industries adapts latest systems for manufacturing from designing...

Sugandha Bhardwaj

<div>New Delhi-based Brinjal Designs Pvt Ltd manufactures home furnishing...

Tejas N Patel, Navin D Patel

Founded in 1999 by Navin Patel in the name of Tejas Fabrics with 100...

Eamonn Tighe
Nature Works LLC

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

Marcel Alberts

Coating at a fibre level is a practice not usually seen in the...

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Sanjukta Dutta
Sanjukta's Studio

<b>Sanjukta Dutta</b> creates unique garments by clubbing prints of...

Wendell Rodricks
Wendell Rodricks

"We should not compare India and the West. There are things we do that...

Sonam & Paras Modi

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


Letter To Editor

(Max. 8000 char.)

Search Companies


Leave your Comments

May 2018

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

news category

Related Categories:

Advanced Search