Home / Knowledge / News / Textiles / Aussie wool market finishes 0.4% higher
Aussie wool market finishes 0.4% higher
20
Feb '12
Australian Wool Industries Secretariat Inc (AWIS) releases wool sale report for the week ending 17 February 2012. The Australian Wool Exchange (AWEX) Regional Indicators finished 0.4% higher, on average, at sales in Sydney, Melbourne / Launceston and Fremantle this week when the US exchange rate fell by 1.1%.

This week was the first of a four week trial in which all centres commence selling on Tuesday. Melbourne sold over three days, while Sydney and Fremantle sold on Tuesday and Wednesday. It was also the week of the speciality sale of Tasmanian wool in Melbourne. It was held on Tuesday and included some very good Merino, comeback and crossbred wool.

The market got away to a solid start on Tuesday, following last week's very strong market. The Northern Indicator was up by 13¢, the Western Indicator by 9¢ and the Southern Indicator by 3¢. The smaller shift in the Southern Indicator needs to be kept in perspective, as Tuesday's offering of Tasmanian wool is all stored in Launceston. Buyers need to include the additional freight cost from Launceston in their bareme.

The market started to soften towards the close of selling on Wednesday. This was followed by a further easing in the market on Thursday in the Melbourne where the Southern Indicator came back by 10¢.

The crossbred market fared better than the Merino market this week in a reversal of recent trends.

This week also saw the end of the large increases of the Eastern Market Indicator (EMI) in US currency in recent weeks. The combination of a lower exchange rate and a softer closing market resulted in a 13¢ fall in the EMI in US currency.

The EMI at 1244¢ is 10¢ less than in the same week last year; and the season average of 1228¢ is 234¢ higher than the season average at the end of Week 33 last year.

47,417 bales were on offer, compared with 42,907 bales last week. 8.1% were passed in, comprised of 5.8% in Sydney, 8.6% in Launceston and 9.7% in Fremantle. Pass-in rates for Merino fleece and skirtings were 7.8% and 7.3%, respectively.

43,570 bales were cleared to the trade.

The year-to-date offering is 41,203 bales less (-3.3%) than at the end of the same week last year (see table on the next page). Last week's market has flushed out some additional wool for next week's sale. But, not enough to reduce the expected year-on-year difference over the next three weeks. Offerings at this time last year were being boosted by grower responses to the very good market.

The US exchange rate (Reserve Bank) eased progressively during the week, apart from a short-lived lift on Wednesday. Financial analysts have pointed to resumed uncertainty about the Greek "bailout", the better than expected January employment data in Australia and speculation about the Reserve Bank's next decision on interest rates has being factors of importance during the week. Overnight trading on Thursday lifted the exchange rate over 107¢.


Must ReadView All

Turkish-Algerian JV to set up textile unit in Relizane

Textiles | On 17th Jan 2018

Turkish-Algerian JV to set up textile unit in Relizane

Construction of one of Africa's largest textile production...

Courtesy: Indorama Ventures

Textiles | On 17th Jan 2018

IVL, Huvis to enter JV for Low Melting Fibre plant in US

Indorama Ventures Limited (IVL), a global chemical producer, and...

Future Group to set up garment manufacturing in Bengal

Apparel/Garments | On 17th Jan 2018

Future Group to set up garment manufacturing in Bengal

Kishore Biyani-led Future Group is going to set up a garment...

Interviews View All

Top executives
Textile & apparel bodies

The mid-term review of FTP is progressive, growth oriented

Deepak Jain
Baggout

We are using Facebook and Instagram to promote ourselves

Vidhyaa Shankar. S
A Ganapathi Chettiar

'The usage of knits is getting into the boundaries of woven fabrics'

Abhishek Pachauri

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

Vikas Banduke

Softech Controls Private Limited (SCPL) is a part of the Cotmac Group, an...

Harsh Shah

Established in 1956 with a small beginning, Embee today manufactures a...

Eric Scholler
Groz-Beckert

The Indian market has huge potential in technical textiles, and by far,...

Larry L Kinn
Suominen Corporation

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

Marcel Alberts
Eurofibers

Coating at a fibre level is a practice not usually seen in the...

Ritu Kumar
Label Ritu Kumar

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

Rupa Sood and Sharan Apparao
Nayaab

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

Silvia Venturini Fendi
Fendi s.r.l

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

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

January 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
68.8%
No
13.5%
Skip
17.7%

Total Votes: 96

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
63.5%
No
29.2%
Skip
7.3%

Total Votes: 96

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
87.5%
No
9.4%
Skip
3.1%

Total Votes: 96

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
82.3%
No
8.3%
Skip
9.4%

Total Votes: 96


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