Home / Knowledge / News / Textiles / Australian wool market drops
Australian wool market drops
06
Feb '12
Australian Wool Industries Secretariat Inc reports that AWEX Regional Indicators finished 0.3% lower, on average, at sales in Sydney, Melbourne and Fremantle this week when the US exchange rate rose by a further 1.9%.

The market got away to a steady start in the East on Wednesday, with the EMI up by 1¢; based on good gains at 17 microns and finer and small movements in both directions in most other micron ranges. The start was not as good in the West, with falls in most wools other than 22 microns. Thursday's market saw further gains at 17 microns and finer, but an easing among most other micron ranges.

Nevertheless, it was a very solid week in global terms, given the significant increase in the US exchange rate since the last sale. The US exchange rate is now up by 8.3% since the close of the last sale prior to Christmas, which takes the change in the EMI in US currency over the same period to 101¢.

The Cape Wools Indicator in South Africa was up by 0.5% in a smaller sale.

37,382 bales were on offer, compared with 44,751 bales last week. 9.9% were passed in, comprised of 8.4% in Sydney, 9.3% in Melbourne and 13.0% in Fremantle. Pass-in rates for Merino fleece and skirtings were 10.3% and 7.5%, respectively.

33,681 bales were cleared to the trade.

The year-to-date offering is 40,582 bales less (-3.5%) than at the end of the same week last year (see tables on the next page). Current expectations of offerings over the next three weeks suggest this figure will stay much the same over the period.

The US exchange rate (Reserve Bank) continued its upward movement this week, finishing with a sharp rise of over one cent on Thursday. Thursday's rise was attributed to the release of better than expected Australian export figures for December.

The ongoing rise matches the expectations of financial analysts last week when the United States Federal Reserve announced that it expects to keep interest rates in the 0.0% to 0.25% range until 2014.

There were solid gains at the finest end of the micron scale again this week for the second week in a row. Otherwise, most other average AWEX MPGs were down by a small amount. The appreciation of the US exchange rate, would put the all the changes in the MPGs into positive territory for the week.

All Indicators, apart from the 24 micron MPG, continue to be down since the start of the season. But, 20 to 24 micron wools have all made good gains since the same time last year. Fine wool MPGs are behind last year. But, they were making the greatest gains then.

Better skirtings types started the week on a firm, or upward note, while the lesser types eased. Strong competition in the South on Thursday led to increases in that market. The Northern and Western market remained firm on Thursday.

Among the non-Merino types, the presence of some well prepared comeback wools led to an increase in the 26 micron MPGon Thursday which was reversed on Thursday. Other MPGs were relatively unchanged.


Must ReadView All

Apparel/Garments | On 25th Sep 2017

Vietnam textile sector to gain if EU FTA gets ratified

Experts feel the Vietnam-European Union (EU) free trade agreement...

Prime Minister Narendra Modi dedicating the Deendayal Hastkala Sankul to the nation, in Varanasi, Uttar Pradesh on September 22, 2017. Courtesy: PIB

Textiles | On 25th Sep 2017

Handicrafts trade facilitation centre opens in Varanasi

Prime Minister Narendra Modi dedicated the Deendayal Hastkala Sankul, ...

Apparel/Garments | On 25th Sep 2017

AAFA urges US govt to plug lacunae in military procurement

The American Apparel & Footwear Association (AAFA), an alliance of...

Interviews View All

Abhimanyu Singh Rathore & Barbara Anna Kosiorek
Kannbar

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

Karel Williams
Dow Microbial Control

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

Akash Khetan
Narayan Tex Fab

I find it hard to find professionals in Surat

Ashok Desai
Bombay Textile Research Association

Bombay Textile Research Association (BTRA) is a leading name in textile...

Giorgio Mantovani
Corman S.p.A

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

Larry L Kinn
Suominen Corporation

Larry L Kinn, Senior Vice President - Operations Americas of Suominen...

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

Wendell Rodricks
Wendell Rodricks

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

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

September 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

Active Poll

Do you see sustainability as a route to business growth?

Yes
74.5%
No
12.8%
Skip
12.8%

Total Votes: 47

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
61.7%
No
25.5%
Skip
12.8%

Total Votes: 47

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
87.2%
No
6.4%
Skip
6.4%

Total Votes: 47

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
70.2%
No
10.6%
Skip
19.1%

Total Votes: 47


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