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

Apparel/Garments | On 27th Mar 2017

NYCEDC announces $51mn package for NYC garment industry

New York City Economic Development Corporation (NYCEDC), in...

Apparel/Garments | On 27th Mar 2017

Fynd raises $500K Series A funding from Venture Catalysts

Fynd, an online to offline (O2O) e-commerce fashion marketplace, has...

Apparel/Garments | On 27th Mar 2017

India's fashion market to touch $30 bn by 2020: Report

The fashion market in India is estimated at $70 billion in 2016, with ...

Interviews View All

Akash Khetan
Narayan Tex Fab

I find it hard to find professionals in Surat

Karel Williams
Dow Microbial Control

'Silvadur is most rapidly adopted in areas where hygiene-conscious and...

Mohammad Mamun Ar Rashid
UL VS Bangladesh Ltd

Productivity, creativity and innovation play a vital role in the growth of ...

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Eamonn Tighe
Nature Works LLC

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

Pranav Mishra
Huemn

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer <b>Prathyusha Garimella</b> is known for blending ...

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
March 2017

March 2017

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

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search