Home / Knowledge / News / Textiles / Australian wool market up
Australian wool market up
13
Feb '12
Australian Wool Industries Secretariat reports Australian Wool Exchange (AWEX) Regional Indicators finished 4.4% higher, on average, at sales in Sydney, Melbourne and Fremantle this week when the US exchange rate rose by a further 0.8%.

The market got away to a firm start in the South on Tuesday when the Southern Market Indicator moved up by 6¢, based on strong rises in the 16.5 and finer and in the 18.5 microns and broader Merino wools.

This was followed by very strong demand and rises across all Merino types and micron ranges on Wednesday and Thursday, that saw the Eastern Market Indicator (EMI)move up by 4.2% for the week to reach its highest level since mid-September. Average AWEX MPGs for Merino wools are up by 4.0 to 5.8%; and crossbreds by lesser amounts.

The rise in the EMI in A$ was achieved in spite a further, but more moderate, increase in the US exchange rate. The EMI is US was up by a further 64¢, taking the lift in the EMI in US terms to 165¢ since the last sale before Christmas. The EMI, in US terms closed at 1343¢, its highest level since early September, but below the peak of 1515¢ in late June.

There were more modest increases in South Africa, where the Cape Wools Indicator was up by 0.5%against a stronger exchange rate.

42,907 bales were on offer, compared with 37,382 bales last week. 6.4% were passed in, comprised of 5.0% in Sydney, 6.6% in Melbourne and 8.0% in Fremantle. Pass-in rates for Merino fleece and skirtings were 4.4% and 6.7%, respectively. 40,163 bales were cleared to the trade.

The year-to-date offering is 41,998 bales less (-3.5%) than at the end of the same week last year (see table on the next page). The current estimates for the next three sales suggest that the difference will slip back a little more in the short term. But, it would not be a surprise if this week's market flushed out some wool on hold and some previously passed-in wool.

The US exchange rate (Reserve Bank) continued its upward movement this week, again breaking the 108¢ barrier. This was probably partially influenced by the Reserve Bank's decision to leave the official cash rate unchanged at 4.25%. This decision surprised many financial analysts.

Any rise in the US exchange rate invariably brings out various experts' predictions on where it will peak. The Australian newspaper quoted a tip of 120¢ during the week.

There were very solid gains across all the Merino average AWEX Micron Price Guide (MPGs). As always, it was good to see the gains including all the Superfine ranges. The average 16.5 MPG has risen over each of the last three weeks. At 2004¢, it is now up by 193¢ since the closing sale before Christmas.

The 20 to 23 micron wools have either nearly regained the losses since earlier in the season, while the 23 and 24 micron wools are now ahead the start of the season. All of the 20 to 24 micron wools are ahead of the same sale last year.

Skirting types did well, but appeared to lag slightly behind the fleece types. Crossbreds did well, but generally were a little behind the Merino wools. Oddments were a bit mixed, but generally did less well than the fleece types. The average AWEX Merino Cardings was up by 3¢.


Must ReadView All

ITC, ICS tie up to help Moroccan textile value chain

Textiles | On 21st Apr 2018

ITC, ICS tie up to help Moroccan textile value chain

The International Trade Centre (ITC) has partnered with ICS, which...

Bangladesh garment manufacturers call for fair pricing

Apparel/Garments | On 21st Apr 2018

Bangladesh garment manufacturers call for fair pricing

Bangladesh garment manufacturers want a ‘commensurate adjustment’ by...

Pak ministry proposes extension to PM package for 2018-19

Textiles | On 21st Apr 2018

Pak ministry proposes extension to PM package for 2018-19

Pakistani textile ministry has reportedly proposed extending the...

Interviews View All

Abhishek Ganguly
Puma India

‘As a brand, Puma is always looking for new and innovative ways to inspire ...

Saket Garg
Garg Corporation

The biggest challenge is lack of skilled workforce and competition from...

Siddharth Biyani
Mangalam Industries Pvt Ltd

‘The manufacturing sector is improving day-by-day, becoming better in...

Ravindra Jain, Ashish Baid

Oswal Prints Private Limited has been manufacturing and exporting ethnic...

Riddhi Jain

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

Abhishek Pachauri

Reckon Industries adapts latest systems for manufacturing from designing...

Lynda Kelly
Suominen Corporation

Suominen Corporation is a manufacturer of nonwovens as roll goods for...

Ashok Desai
Bombay Textile Research Association

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

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Vaanee Bhatia
Gritstones Clothing

<div>Delhi-based Gritstones Clothing offers quality and exemplary style...

Pranav Mishra
Huemn

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

Rupa Sood and Sharan Apparao
Nayaab

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

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