Home / Knowledge / News / Textiles / Cape Wools market loses steam
Cape Wools market loses steam
17
Nov '11
The wool market lost momentum at this week's sale in the wake of continued global market uncertainty and recession fears. This resulted in Cape Wools Merino indicator declining by 2.6% to close at R100,75/kg (clean). This, however, still is above the key R100/kg level.

This decline was in line with the Australian market which also closed at lower levels.

A weaker rand, which at R8,13, was 3.5% down against the US dollar compared with last week's average rate, no doubt prevented prices from falling further. The rand was also 1.4% weaker against the euro at R10,97.

The offering comprised 10 528 bales of which 95% was sold. Major buyers were Standard Wool SA (3 713 bales), Modiano SA (2 927 bales), Lempriere SA (1 373 bales) and Stucken & Co (1 316 bales).

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 fell by 1.4% to R118,31/kg, 19,5 microns were 3.4% cheaper at R112,11/kg, 20 microns dropped by 3.2% to R108,75/kg, 20,5 microns were down 3.4% at R106,81/kg; 21 microns fell by 2.7% to close at R104,89/kg, 21,5 microns were 1.3% cheaper at R103,30/kg and 22 microns were unchanged at R100,05/kg.

Approximately 8 500 bales will be offered at next week's sale.

Cape Wools


Must ReadView All

Courtesy: Michael Kors

Fashion | On 25th Jul 2017

Michael Kors to acquire Jimmy Choo

Global fashion luxury brand Michael Kors Holdings Limited has reached ...

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,...

Textiles | On 25th Jul 2017

Global growth to pick up in 2017 and 2018: IMF

The pickup in global growth anticipated in the April World Economic...

Interviews View All

Amit Jain
Shingora Textiles Ltd

‘In terms of fabric, the fastest growing category for us is a blend of...

Claudia Kersten
Global Organic Textile Standard

‘GOTS is a very efficient supply chain management tool, especially for...

Neel Sawhney
One Friday

‘The share of kidswear segment in the online sector is still small in...

Larry L Kinn
Suominen Corporation

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

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Ashok Desai
Bombay Textile Research Association

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

Mike Hoffman
Gildan Activewear SRL

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

Yash P. Kotak
Bombay Hemp Company

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

Karan Arora
Karan Arora

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

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