Home / Knowledge / News / Textiles / Significant rises in Aussie wool market
Significant rises in Aussie wool market
07
Nov '11
Australian Wool Industries Secretariat Inc (AWIS) releases wool sale report for the week ending November 4.

The Australian Wool Exchange (AWEX) Regional Indicators finished 1.5% higher, on average, at sales in Sydney, Melbourne and Fremantle this week when the US exchange rate fell by 2.3%.

The sales opened well on Wednesday on top of last week's very strong market. There was another good lift in the Eastern Market Indicator (EMI), although assisted by a fall in the US exchange rate. Some of Wednesday's gains were cancelled out on Thursday. However, the EMI is at a very good level and is up by 5.7% in Australian currency and by 6.5% in US currency over the last two sales.

The larger increase in the Western Indicator on Wednesday was due to there being no sale in the West on the previous Thursday, when the Northern and Southern Indicators, both rose by 28¢.

The market was not helped by the fall in global economic confidence that arose from the latest events in Greece during the week and the negative reactions of other EU countries to these events.

38,655 bales were on offer, compared with 37,385 bales last week. 9.4% were passed in, comprised of 4.1% in Sydney, 9.6% in Melbourne and 14.7% in Fremantle. Pass-in rates for Merino fleece and skirtings were 7.2% and 7.1%, respectively.

35,018 bales were cleared to the trade.

The daily closing US exchange rate peaked at 106¢ on Friday of the previous week, following the positive outlook after the EU Leaders' Meeting on the EU debt crisis. A fall was expected this week when the Reserve Bank cut the Australian official interest rate by 0.25% on Tuesday. But, the biggest factor was the announcement by the Greek Prime Minister, George Papandreou, of his intention to hold a referendum on the austerity programme agreed to at last week's EU Leaders' Meeting. It now known that this will not occur, following pressure on Mr Papandreou from other EU leaders and from within his own party.

There were further rises across all Merino types and micron ranges on Wednesday, after the previous sale's large gains (when the EMI had picked up 57¢). The greatest gains on Wednesday were from 18 to 24 microns; and particularly for 22 and 23 micron wool. The increases at the fine end were more subdued. The easing on Thursday was across all Merino micron ranges, but all average AWEX Micron Price Guide (MPGs) finished above last week's levels by varying amounts from +0.2% to +1.7%.

Despite the negative global issues, the EMI remains at very good levels in both currencies. Also, the Cape Wools Indicator rose by a further 3.9% in South Africa this week on top of rises of 7.5%, 4.0% and 3.4% over the previous three weeks.

Skirtings again opened strongly on Wednesday and made good gains throughout the day. They continued in keen demand on Thursday with prices reported as remaining firm.

Crossbreds fared less well than Merino types on Wednesday, when they finishing down or unchanged. They were caught in the general easing in the market on Thursday. The week closed with their average AWEX MPGs down by around 1%. It is understood that the Australian crossbred prices are above those in New Zealand.


Must ReadView All

Apparel/Garments | On 26th Sep 2017

US raises annual AGOA quota for textiles

The US Committee for the Implementation of Textile Agreements has...

Textiles | On 26th Sep 2017

Gujarat hopes extended textile policy to attract Rs 5000 cr

The Gujarat government feels that its recent decision to extend its...

Apparel/Garments | On 26th Sep 2017

Cash burn by e-tailers in India may double during festivals

During this year’s festival season, which has already started,...

Interviews View All

Amardeep Singh
Orient Craft

'In export markets, the trend in terms of embroidery, is towards matte...

Rajiv Sirohi
Shara

‘Portugal is taking away a major share of the mill made sector.’

Awen Delaval
Samatoa

'Natural fibres are appreciated for traditional authenticity'

Marten Alkhagen
Swerea IVF AB

Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...

Suresh Patel
Sidwin Fabric

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

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Sidharth Sinha
Sidharth Sinha

<b>Sidharth Sinha</b> has contributed to the successful rebirth and...

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

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

September 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
75.0%
No
12.5%
Skip
12.5%

Total Votes: 48

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
62.5%
No
25.0%
Skip
12.5%

Total Votes: 48

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
87.5%
No
6.3%
Skip
6.3%

Total Votes: 48

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
70.8%
No
10.4%
Skip
18.8%

Total Votes: 48


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