Home / Knowledge / News / Textiles / AWEX wool indicator closes 1.6% lower last week
AWEX wool indicator closes 1.6% lower last week
11
Jun '12
Australian Wool Industries Secretariat Inc (AWIS) releases wool sale report for the week ending June 8. The Australian Wool Exchange (AWEX) Regional Indicators finished 1.6% lower, on average, at sales in Sydney and Melbourne this week when the US exchange rate rose by 2.4%.  The Eastern Market Indicator (EMI) moved up by 0.8% in US currency. There was no sale in the West.

There was some uncertainty about how this week's market would open, given the turmoil in global economic markets and in global confidence since last Thursday.  It did appear that financial markets were becoming more settled by mid-week.
 
The market opened in a similar manner to last week, with good competition for the Free, or Nearly Free, types and easing for wools with higher levels of Vegetable Matter.  Falls were greatest at the fine end again this week, but by lesser amounts than last week.  Falls in individual Micron Price Guides (MPGs) were confined to a few cents from 18.0 microns up in Sydney and from 19.5 microns up in Melbourne. The rise in the exchange rate meant that the Eastern Market Indicator (EMI) in US currency was up by 5¢ on Wednesday.
 
A 1.4% rise in the US exchange rate put some addition pressure on prices in Australian currency on Thursday.  Fine wools did better on a percentage change basis on Thursday apart from a further 28¢ fall in the 17.0  Micron Price Guides (MPGs) in Melbourne. Crossbred prices were down by generally small amounts.
 
The market has been much steadier over the last two weeks than it was over the preceding four weeks.  Pass-in rates were similar to those in Sydney and Melbourne last week.
 
The average Eastern Market Indicator (EMI) and WMI remain above last year's values as the end of the season is approaching.  The average Eastern Market Indicator (EMI) is still 85¢ above the same period last year.
 
In other countries, the Cape Wools Indicator was down by 1.7% (-1.9% in US) since their last sale two weeks ago.   The Wool Services International fine crossbred (33 - 35 microns) and coarse crossbred (36 - 39 microns) Indicators were down by 2.5% and 5%, respectively in New Zealand.
 
Among other fibres, July futures for cotton were up by 6.3% for the week on Friday, to recover most of last week's 6.8% fall.
 
27,601 bales were on offer, compared with 39,341 bales last week (when all three regions sold).  12.0% were passed in, comprised of 10.7% in Sydney and 12.9% in Melbourne.  Pass-in rates for Merino fleece and skirtings were 13.0% and 13.8%, respectively.  24,295 bales were cleared to the trade.
 
The year-to-date offering is 44,145 bales less (-2.3%) than at the end of the same week last year.  If the forecast offerings over the next three sales are achieved, the full season year-on-year change will be around -1.6%.


Must ReadView All

Chinese firm sets up textile-garment chain in Vietnam

Apparel/Garments | On 13th Dec 2017

Chinese firm sets up textile-garment chain in Vietnam

Worldon Vietnam Co. Ltd under the Chinese Shenzhou Group is likely to ...

Courtesy: SATO Global Solutions

Information Technology | On 13th Dec 2017

Sensor networks improve inventory management

Sensor networks like radio frequency identification (RFID) and smart...

CMAI hails review of FTP as 'progressive package'

Apparel/Garments | On 13th Dec 2017

CMAI hails review of FTP as 'progressive package'

The Clothing Manufacturers' Association of India (CMAI) has hailed...

Interviews View All

Shiladitya K Joshi
Truetzschler India Private Limited

India ITME provides a platform to interact with our stakeholders

Janak Dhamanwala & Sunil Dhamanwala
Jansun

Moving towards sustainability is also a social change

Yashiki Gumber
Sahiba Fabrics

Fabric does not restrict us from fashion trends

Nitesh Mittal

Kusumgar Corporates is a leading manufacturer of technical textiles and...

Harmeet Singh

New Delhi-based Jogindra Industries Private Limited provides an assortment ...

Hardik Sanghvi

Idealin Fogging Systems has been engaged in designing and manufacturing...

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Mohammad Hassan
Biax Fiberfilm

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

Kevin Nelson
TissueGen

Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...

Bani Batra

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

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

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

December 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
69.6%
No
12.0%
Skip
18.5%

Total Votes: 92

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
62.0%
No
30.4%
Skip
7.6%

Total Votes: 92

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
87.0%
No
9.8%
Skip
3.3%

Total Votes: 92

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
81.5%
No
8.7%
Skip
9.8%

Total Votes: 92


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