Home / Knowledge / News / Textiles / Aussie wool market up
Aussie wool market up
05
Dec '11
Australian Wool Industries Secretariat Inc (AWIS) releases wool sale report for the week ending 2nd December 2011.

The Australian Wool Exchange (AWEX) Regional Indicators finished 1.1% higher, on average, at sales in Sydney, Melbourne and Fremantle this week when the US exchange rate rose by 5.4%.

The market opened strongly on Wednesday following the strong performance on the previous Thursday. It maintained that momentum throughout the day; and the Eastern Market Indicator (EMI) finished up in both Australian and US currencies. This was followed by a softer market on Thursday that reversed most of Wednesday's gains.

It is not clear how much of this fall was due to market conditions and how much was due to the sharp rise in the US exchange rate that occurred on Thursday (see below). The rise in the US exchange rate meant that the Eastern Market Indicator (EMI) was up by 12¢ in US for the day; and up by 65¢ US for the week.

The EMI at 1193¢ is 179¢ higher than in the same week last year; and the season average of 1238¢ is 317¢ higher than the season average at the end of Week 22 last year.

The greater rise in the Western Indicator was due to there being no sale in Fremantle last Thursday or this Tuesday, during which the EMI rose by a total of 35¢.

44,372 bales were on offer, compared with 43,499 bales last week. 12.3% were passed in, comprised of 11.4% in Sydney, 11.7% in Melbourne and 16.2% in Fremantle. Pass-in rates for Merino fleece and skirtings were 10.7% and 9.8%, respectively.

38,933 bales were cleared to the trade.

The year-to-date national offering is now 19,554 (-2.3%) less than last season. Looking ahead to the last two sales prior to Christmas, the forecast offerings are now more in line with last year than in recent weeks.

The continuing economic uncertainty in Europe and the swings in exchange rates continued this week, with a 5.4% increase in the US exchange rate; and increases of 4.7% and 5.5% respectively in the Euro and Chinese Renminbi exchange rates. The 2.35¢ lift in the US exchange rate on Thursday was attributed to the boost in confidence that came after news on Wednesday night that the world's major central banks intend taking a combined approach to resolving the European debt crisis.

The increases in the market on Tuesday occurred across all Merino fleece types and micron ranges, with the greatest gains from 18.5 to 24 microns. A number of individual AWEX Micron Price Guide (MPGs) lifted by 30 to 40¢. The downward movement on Thursday was greater at the fine end, while most of the broader Merino average MPGs stayed in positive territory for the week.

All Western AWEX Micron Price Guide (MPGs) were well up for the Wednesday-to-Wednesday interval between their sales. The increases ranged from 24¢ at 18.5 microns to 65¢ at 21 microns.

Skirting types followed the fleece types up on Wednesday, but then eased on Thursday when demand and prices for fleece types softened.

Must ReadView All

Textiles | On 21st Feb 2017

Net profit at Indorama Ventures zooms 145% in 2016

Net profit at Thailand headquartered and Aloke Lohia led Indorama...

Information Technology | On 21st Feb 2017

ThreadSol launches IntelloBuy & IntelloCut in Vietnam

ThreadSol, the pioneer of enterprise material management for sewn...

Textiles | On 21st Feb 2017

GST to reduce documentation for logistics firms: CBRE

The Goods and Services Tax (GST) is likely to result in a reduction...

Interviews View All

Neel Sawhney
One Friday

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

Prabu Mohanram
Balavigna Weaving Mills Pvt Ltd

The biggest challenge that the weaving industry faces is high price

C. Dhandayuthapani
Mag Solvics Pvt. Ltd

ITME 2016 exploited our full strength like never before

Silke Brand-Kirsch
Schlegel und Partner

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

Paolo Ocleppo
Sandvik Hyperion

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

Eric Scholler
Groz-Beckert

The Indian market has huge potential in technical textiles, and by far,...

Madhu Jain
Madhu Jain

She grew up in the walled city of Old Delhi, completed her studies, and...

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

Yash P. Kotak
Bombay Hemp Company

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

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
February 2017

February 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