Home / Knowledge / News / Textiles / Pleasing sales in Aussie wool market
Pleasing sales in Aussie wool market
19
Dec '11
Australian Wool Industries Secretariat Inc (AWIS) releases wool sale report for the week ending 16th December 2011.

The Australian Wool Exchange (AWEX) Regional Indicators finished 2.2% higher, on average, in Sydney, Melbourne and Fremantle this week when the US exchange rate fell by 3.6%. These were the last sales prior to the three week Christmas break.

The market stated slowly on Tuesday, but gained strong momentum on Wednesday after reports of sales to China, and later sales in Europe. The upward movement continued on Thursday, when only the South sold. It was a pleasing finish prior to the three week Christmas break. The fall in the US exchange rate was helpful in a week of low global economic confidence.

The Eastern Market Indicator (EMI) has finished the first half of the season at 1189¢, 158¢ higher than in the same week last year. The season average of 1233¢ is 302¢ higher than the season average at the end of Week 24 last year.

The bigger rise in the Western Indicator was associated with increases of 36¢ and 53¢, respectively in the 18.0 and 18.5 AWEX Micron Price Guide (MPGs) in Fremantle on Tuesday.

45,108 bales were on offer, compared with 50,304 bales last week. 12.2% were passed in, comprised of 11.7% in Sydney, 10.7% in Melbourne and 18.9% in Fremantle. Pass-in rates for Merino fleece and skirtings were 9.2% and 12.8%, respectively. 39,604 bales were cleared to the trade.

The year-to-date offering is 24,267 bales less (-2.5%) than at the end of the same week last year (see table on the next page). It was encouraging to see the differences in the order of -15% in weekly offerings during November come back to -4.7% in the first two weeks of December.

The New Zealand Merino Company also offered 1,287 bales in Melbourne on Wednesday, of which 28.3% were passed in.

As expected, exchange rates over the last week were strongly influenced by perceptions of the outcomes from last week's EU Summit. It was agreed to impose measures to reduce Eurozone debt at the Summit.

But, the reactions of financial markets around the world have reflected a lack of confidence in Europe's ability to achieve the Summit's aims. The associated fall in global economic confidence saw the US exchange rate fall by 3.6% since last Thursday, as currency again left Australia for the “safe havens”.

Rises were seen across all Merino micron ranges and types, with most average AWEX Micron Price Guide (MPGs) up by 2.5% to 4.0%. It was particularly good to see a strong performance at the Superfine end this week.

As can be seen in the following table, the medium and broader Merino wools have done best when compared with the start of the season and with 12 months ago. The market is down from its previous very high levels, but, it is still at very good levels in historic terms.

All of this has been achieved during four months of great financial concern in Europe and some significant volatility in the market.

Must ReadView All

Courtesy: Christian Dior

Fashion | On 25th Apr 2017

LVMH to acquire Christian Dior Couture for €6.5bn

LVMH and Christian Dior, which holds directly and indirectly 41 per...

Information Technology | On 25th Apr 2017

Self-repairing fabrics to be the future of fashion

It is the era of smart. Intelligent materials like self-repairing...

Textiles | On 25th Apr 2017

Indonesia revitalising textile sector

With exports of textile and textile products rising in Indonesia, the ...

Interviews View All

Asim Dalal
Indo Count Retail Ventures

Today, there is no other emerging market as India, "we make in India and...

Mohammad Mamun Ar Rashid
UL VS Bangladesh Ltd

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

Abhimanyu Singh Rathore & Barbara Anna Kosiorek
Kannbar

‘Blending cultures is the true beauty of fashion, where one’s imagination...

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...

Paolo Ocleppo
Sandvik Hyperion

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

Wendell Rodricks
Wendell Rodricks

"We should not compare India and the West. There are things we do that...

Pranav Mishra
Huemn

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

Robert Brunner
Devereux

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

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
April 2017

April 2017

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

SUBSCRIBE


Browse Our Archives

GO


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