Home / Knowledge / News / Textiles / Cape Wools Merino indicator at record highs
Cape Wools Merino indicator at record highs
12
Jan '12
The first sale of the New Year opened on a positive note when wool prices rose sharply and the Cape Wools Merino indicator gained 7.1% to close the day at a fresh record of R105,15/kg (clean). This is up 49% on the corresponding sale last season and 1% higher than the previous seasonal high.

This is the highest level ever for the South African indicator.

There was keen competition from the various sectors of the trade for quality fleeces and the prices of most of these types rose to well above the R100/kg mark. In the 22-micron category gains of up to 10% were posted.

The price increases were in line with Australia, where the market posted gains just before the Christmas recess and continued to improve at this week's sales.

The rand was 1.3% weaker against the US dollar compared with the previous sales' average rate, trading at R8,06, but at R10,28 it was 3.8% stronger against the euro.

It was a fairly large sale with 12 330 bales on offer, of which 96% was sold. Major buyers were Standard Wool SA (3 194 bales), Lempriere SA (2 908 bales), Modiano SA (2 807 bales), Stucken & Co (1 562 bales) and Segard Masurel SA (1 016 bales).

The average clean price for the different categories good top-making (MF5), long fleeces were as follows: 19 microns rose 6.6% to R121,11/kg, 19,5 microns were 8.7% dearer at R117,58/kg, 20 microns gained 7.8% to R114,62/kg, 20,5 microns were up 7.4% to R112,08/kg; 21 microns increased by 6% to close at R109,51/kg, 21,5 microns were 7.3% dearer at R109,37/kg, while 22 microns gained 10.2% to close at R107,58/kg.

Approximately 14 000 bales will come under the hammer at next week's sale.

Cape Wools


Must ReadView All

Textiles | On 26th Jul 2017

Q1 2018 revenue at Raymond soars 14%

The consolidated revenue of Raymond Limited for the first quarter of...

Textiles | On 26th Jul 2017

Textile Corp of America to create 1000 jobs in Tennessee

Textile Corporation of America Inc, a leading textile manufacturer,...

Textiles | On 26th Jul 2017

Leather & footwear industry expecting incentive package

India’s leather and footwear industry is anticipating an incentive...

Interviews View All

Nitin Soni
Dolphin Jingwei Machines

Taxation policies need to be made simpler

Veronique Lee
Modavanti

‘Sustainable fashion is trending upwards, slowly but surely, as people...

Pinkesh Jain
Everflow Petrofils Ltd

‘An innovative technology which India needs desperately is the...

Silke Brand-Kirsch
Schlegel und Partner

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

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...

Prathyusha Garimella
Prathyusha Garimella

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

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

Aditi Somani
Aditi Somani

Aditi Somani specialises in luxury fusion wear with international cuts 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

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