Home / Knowledge / News / Textiles / Australian wool prices drop last week
Australian wool prices drop last week
27
Feb '12
Australian Wool Industries Secretariat Inc (AWIS) releases wool sale report for the week ending 24 February 2012. The Australian Wool Exchange (AWEX) Regional Indicators finished 3.3% lower, on average, at sales in Sydney, Melbourne and Fremantle this week. The US exchange rate fell by 0.3%.

This week was the second week 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.

As expected, the market got away to a slow start, following the easing seen on Thursday of last week. Individual Merino Micron MPGs fell by amounts from 18¢ to 49¢, with most falls between 30¢ and 40¢. Changes in crossbred MPGs were smaller, ranging from +6¢ to -20¢. The larger fall in the Western Indicator was mostly due to a reported 86¢ fall in the 18.5 MPGs and the absence of crossbred wools which cushioned the falls in the East.

The further falls on Wednesday and Thursday were greatest at the fine end.

Sellers reacted to the downturn in the market with an increase in the pass-in rate, particularly in the West where it was 38.6% on Wednesday.

Looking at the market over the last month, All Regional Indicators are above the levels of three weeks ago in both Australian and US currency. The Eastern Market Indicator (EMI), at 1207¢, is 14¢ above the level of three weeks ago in A$ and 7¢ above the equivalent level in US currency.

49,584 bales were on offer, compared with 47,417 bales last week. 20.9% were passed in, comprised of 13.4% in Sydney, 20.3% in Melbourne and 29.8% in Fremantle. Pass-in rates for Merino fleece and skirtings were 25.9% and 20.2%, respectively. 39,223 bales were cleared to the trade.

The New Zealand Merino Company also offered 2,843 bales in Melbourne on Tuesday, of which 42.0% were passed in. The year-to-date Australian offering is 40,560 bales less (-3.1%) than at the end of the same week last year (see table on the next page). Current estimates for the next three sales indicate that the year-to-year difference may reduce slightly over that period. Next week's sale looks to include some wool flushed out by the price rises of two weeks ago.

The US exchange rate (Reserve Bank) changed little on a week-to-week basis, but was quite volatile during the week. Rises last Friday and on Monday were attributed to confidence that the Greek “bailout” would be agreed to and a monetary easing in China. The increase could not be sustained over the next three days, falling back to just below last Thursday's close.

The fine wools recent better run came to and end this week when their average AWEX Micron Price Guide (AWEX MPGs) fell by a greater amount than those for the medium and broad Merino wools.

Skirtings had a mixed start to the week with rises reported in the North and an easing in the South and the West. The falls continued in the South and the West on Wednesday, but settled on Thursday when only Melbourne sold.


Must ReadView All

Textiles | On 26th Jul 2017

Textile Corp of America to create 1000 jobs in Tennessee

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

Courtesy: IVL

Textiles | On 26th Jul 2017

IVL completes PTA capacity expansion in Europe

Indorama Ventures Public Company Ltd (IVL), a global chemical...

Textiles | On 26th Jul 2017

Vietnam’s textile & garment exports cross $13bn in H1

Vietnam earned $13.... billion from textile and garment exports in...

Interviews View All

Sunil Kumar Sharma
Loknayak JPNSSSG Ltd

'The blend of cotton–linen yarn has high demand in the domestic and...

Hannah Lane
Redress

Encouragement from brands will motivate supply chains to become more...

Rahul Bhadani
Looksgud

Navigating through catalogues is a bit hasslesome

Mark Paterson
Technical Absorbents Ltd

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

Marten Alkhagen
Swerea IVF AB

Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...

Marcel Alberts
Eurofibers

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

Igor Chapurin
Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

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