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

Apparel/Garments | On 24th Apr 2017

ColDesi launches latest direct to garment printer

ColDesi, a pioneer in the direct to garment printer business, has...

Textiles | On 24th Apr 2017

US’ textile manufacturers applaud Buy American order

US' National Council of Textile Organisations has favoured President...

Courtesy: NASA/JPL-Caltech

Textiles | On 24th Apr 2017

NASA designing advanced woven metal fabrics for space

Scientists at NASA are designing advanced woven metal fabrics for a...

Interviews View All

Angelina Francesca Cheang
MY ANJE

'Consumers in the age-group 21 to 38 are driving the activewear trend'

Giovanni Pizzamiglio, Paolo Crespi & Riccardo Robustelli
Epson, For.Tex & F.lli Robustelli

‘The percentage share of printing in the global textile market is pretty...

Amit Jain
Shingora Textiles Ltd

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

Ashok Desai
Bombay Textile Research Association

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

Mohammad Hassan
Biax Fiberfilm

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

Silke Brand-Kirsch
Schlegel und Partner

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

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing 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
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