Home / Knowledge / News / Textiles / Strength in wool market
Strength in wool market
31
Oct '11
The AWEX Regional Indicators finished 4.8% higher, on average, at sales in Sydney, Melbourne and Fremantle this week when the US exchange rate rose by 3.1%.

It was a very strong market. The EMI moved up for the first time since Week 10; and closed at its highest level since Week 12 in Australian currency and at its highest level in US currency (1274¢) since Week 11. This week's increase of 48¢ in the EMI is the largest week-on-week increase since the first week of February. The closing EMI is 28.0% above Week 17 last year.

The increases occurred despite the 3.1% appreciation in the US exchange rate since last week's sale.

37,385 bales were on offer, compared with 43,416 bales last week. 6.6% were passed in, comprised of 4.8% in Sydney, 6.8% in Melbourne and 9.7% in Fremantle. Pass-in rates for Merino fleece and skirtings were 5.4% and 6.7%, respectively.

34,920 bales were cleared to the trade.

The New Zealand Merino Company also offered 1,163 bales in Melbourne on Wednesday of which 22.1% were passed in. 437 bales (27.3%) were withdrawn prior to sale and 21.2% of the bales were re-offers.

The US exchange rate has moved up sharply, but not without some volatility. Varying degrees of optimism about the outcome from the European leaders meeting on the debt crises in some EU countries, favourable data from China early in the week and a lower than expected inflation rate in Australia have all influenced this week's money markets. The lift on Thursday was attributed to the Euro outcome. It took the US exchange rate to its highest level since early September.

The sale opened strongly on Wednesday, following the good close to last week's market and reports of good sales to China and in Europe since the last sale.

Strong competition led to significant rises across all Merino micron ranges and types, that were followed by similar rises on Thursday. Although the rises occurred across all Merino micron ranges, it was good to see the fine wools do well. Price rises at this end of the market were the best seen this season. The fine wool offering was relatively small after last week's Newcastle sale.

The strength on the Merino market can be seen in the week-on-week rises in the average AWEX Merino MPGs, which rose by greater amounts than the EMI. Also, the Western Market Indicator was up by 48¢ on Wednesday in an offering, that was made up of mostly Merino wool, and the Cape Wools Indicator was up by 7.5% in South Africa.

Skirtings opened strongly on Wednesday and made gains throughout the day and again on Thursday. They followed the rises in fleece types.

Crossbred types had more subdued week than occurred with the Merino wools. There were small increases across all micron groups that averaged around 1% compared with rises of 5% to 7% for most Merino wools.

Oddments opened strongly on Wednesday. The gains were maintained in the South on Thursday, but not in the North. Overall the average AWEX Merino Carding Micron Price Guide was virtually unchanged.


Must ReadView All

Market share of Indian textile items expand in 13 nations

Textiles | On 11th Dec 2017

Market share of Indian textile items expand in 13 nations

Thirteen countries — Germany, France, Italy, the United States,...

Courtesy: EUBrasil

Textiles | On 11th Dec 2017

Euratex, ABIT welcome negotiations for EU-Mercosur FTA

European Apparel and Textile Confederation (Euratex) and the...

Most firms expect no change in investment plans: CII survey

Textiles | On 11th Dec 2017

Most firms expect no change in investment plans: CII survey

Despite visible optimism in Indian industry with the Confederation of ...

Interviews View All

Representatives
Textile & apparel industry

GST is a complicated and lengthy process

Headhonchos
Indian textile value chain

'One nation, one tax' is a great concept

Top executives
Textile industry

The foremost issue is bridging the skill gap

Harsh Shah

Established in 1956 with a small beginning, Embee today manufactures a...

Rikesh Mistry

Jupiter Comtex Pvt Ltd, established in 1973, started its textile machinery ...

Sugandha Bhardwaj

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

Ashok Desai
Bombay Textile Research Association

Bombay Textile Research Association (BTRA) is a leading name in textile...

Kevin Nelson
TissueGen

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

Larry L Kinn
Suominen Corporation

Larry L Kinn, Senior Vice President - Operations Americas of Suominen...

Sonam & Paras Modi
SVA

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

Vaanee Bhatia
Gritstones Clothing

<div>Delhi-based Gritstones Clothing offers quality and exemplary style...

Divvya and Nidhhi Gambhir
Walnut

<b>Divvya and Nidhhi Gambhir</b> started their career with the launch of...

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

December 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

Active Poll

Do you see sustainability as a route to business growth?

Yes
69.2%
No
12.1%
Skip
18.7%

Total Votes: 91

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

Yes No

Active Poll

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

Yes
61.5%
No
30.8%
Skip
7.7%

Total Votes: 91

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

Yes No

Active Poll

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

Yes
86.8%
No
9.9%
Skip
3.3%

Total Votes: 91

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

Active Poll

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

Yes
81.3%
No
8.8%
Skip
9.9%

Total Votes: 91


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