Home / Knowledge / News / Textiles / Aussie wool prices continue to fall
Aussie wool prices continue to fall
04
Mar '13
The AWEX Regional Indicators finished 1.1% lower, on average, at sales in Newcastle, Melbourne and Fremantle last week when the US exchange rate rose by 0.3%.  The EMI was down by 0.6% in US Currency.

It was the last sale in Newcastle, which had commenced as a selling centre in 1928.  A very successful farewell function was held there on Wednesday night.

It was another mixed sale last week with a good start on Tuesday when sales opened in Newcastle on Tuesday.  Good gains were seen at the fine end, where there was some very good wool on offer, and buyers for Italy topped the sale purchases.  AWEX MPGs for 16.5 to 17.5 microns were up by 23¢, on average.

It was a steadier day on Tuesday, as the market eased in the North, where some of Tuesday’s gains at the fine end were lost.  Wednesday’s market in the South was relatively unchanged from the previous week, with a mixture of small gains and losses over the various Merino micron ranges.  However, trade reports indicated that the market was easing towards the end of the day, which was reflected in a fall in the WMI when Fremantle sold later in the day.

Demand was softer on Thursday, resulting in falls across all Merino micron ranges in all centres on the day.  The falls were greatest from 18 to 22 microns.  Falls at the fine end in Newcastle (together with those on Wednesday) cancelled out Tuesday’s gains.  Trade reports said that the better wools in the South picked up towards the end of the day.

Overall, crossbreds had a better week than the Merinos.

The EMI is 104¢ (-8.6%) less than in the same week last year and is 39¢ (3.6%) higher than at the start of the season.  The WMI is 98¢ (-8.0%) less than in the same week last year and is 55¢ (5.1%) higher than at the start of the season.

In Other countries, the Cape Wools Indicator in South Africa was down by 2.8% since last week against a 0.1% appreciation of the Rand against the US Dollar and a 2.6% appreciation against the Euro.

Among other fibres, cotton Futures moved up during the week after remaining relatively unchanged the week before.  May Futures closed at 85.40 US¢, up by 2.7% and July Futures closed at 86.05 US¢, up by 2.4%.

47,686 bales were on offer, compared with 50,239 bales last week.  9.3% were passed in, comprised of 4.0% in Newcastle, 9.0% in Melbourne and 15.4% in Fremantle.  Pass-in rates for Merino fleece and skirtings were 11.4% and 6.9%, respectively.  43,266 bales were cleared to the trade.

It was a mixed week for the US exchange rate, before it finished up by 0.34¢ for the week.  Financial analysts attributed the earlier losses firstly, to poor manufacturing data from China; and secondly, to uncertainty following the confused Italian election result.  Thursday’s upward movement was attributed to a better than expected Australian capital expenditure outlook data.  This led to a reduced expectation that the Reserve Bank will reduce the official cash rate when it meets on Tuesday.


Must ReadView All

Textiles | On 24th Jul 2017

Govt extends deadline for GST composition scheme to Aug 16

The Government on India has extended the deadline for small...

L-R: Dhanapal, JMD, Best Corporation; Prabhu Damodaran, Convenor, ITF; Narayanasamy, MD, Micro Cotspin; Senthilnathan, MD Rasitex India; and Sabapathy, MD, Prasanna Spinning Mills

Textiles | On 24th Jul 2017

TN mills seek partnership with cotton growing states

Spinning mills in Tamil Nadu are seeking stronger partnership with...

Textiles | On 24th Jul 2017

Irani terms GST as a ‘great step towards transparency’

Union textiles minister Smriti Irani has termed the Goods and...

Interviews View All

Amrit Sethia
SOIE

‘The intimatewear category in India is slowly becoming trend-sensitive.’

Mukesh Agarwal & Rajesh Agarwal
Madhuram Fincap Pvt Ltd

Increasing prices and lack of demand main issues facing industry

Binoy Ravjani
Hero's Fashion

‘One of the recent trends in hand block printing is the indigo process,...

Urs Stalder
Sanitized AG

Urs Stalder, CEO, Sanitized AG, talks about the increasing use of hygiene...

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Ashok Desai
Bombay Textile Research Association

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

Igor Chapurin
Chapurin

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

Pranav Mishra
Huemn

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

Sonam & Paras Modi
SVA

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

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