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: Pexels

Textiles | On 27th Apr 2018

AWEX EMI sets new all-time record; touches 1847ac per kg

In the week ending April 27, 2018, the Eastern Market Indicator (EMI) ...

Indian exporters lobby FIEO urges lifting of ban on LoUs

Textiles | On 27th Apr 2018

Indian exporters lobby FIEO urges lifting of ban on LoUs

India’s exporters lobby Federation of Indian Export Organisations...

US GSP extension restored on 22 Apr, refunds not automatic

Apparel/Garments | On 27th Apr 2018

US GSP extension restored on 22 Apr, refunds not automatic

The US generalized system of preferences (GSP) programme was restored ...

Interviews View All

Amit Jain
Shingora Textiles Ltd

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

Awen Delaval
Samatoa

'Natural fibres are appreciated for traditional authenticity'

Kaizad Hansotia
GetNatty

Competition is the best thing that can happen to a startup

Harmeet Singh

New Delhi-based Jogindra Industries Private Limited provides an assortment ...

Riddhi Jain

Conceived in Europe and curated in New Delhi, NeceSera is a...

Harsh Shah

Fynd is the central online shopping destination for fashion, offering...

Steve Cole
Xerium Technologies

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

Suresh Patel
Sidwin Fabric

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

Mohammad Hassan
Biax Fiberfilm

About one in every 20 patients picks up an infection while hospitalised....

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...

Sidharth Sinha
Sidharth Sinha

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

Leave your Comments


April 2018

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
69.9%
No
12.6%
Skip
17.5%

Total Votes: 103

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
63.1%
No
29.1%
Skip
7.8%

Total Votes: 103

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
87.4%
No
8.7%
Skip
3.9%

Total Votes: 103

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
82.5%
No
7.8%
Skip
9.7%

Total Votes: 103


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