Home / Knowledge / News / Textiles / Aussie wool price market ends on strong note last week
Aussie wool price market ends on strong note last week
11
Mar '13
The AWEX Regional Indicators finished 1.0% higher, on average, at sales in Sydney, Melbourne and Fremantle last week when the US exchange rate fell by 0.2%.

The market finished on a strong note after a cautious start to the week.

Merino Micron Price Guides were either unchanged, or down, whereas crossbred Micron Price Guides were up when sales opened in Melbourne on Tuesday.  Wednesday’s sales opened on a similar note but firmed among the medium and broader Merino and crossbred types as the day progressed.  The gains were greatest in the West, where the WMI was coming off a lower base from the previous week.  The Northern Indicator was unchanged as the gains among the medium Merinos were cancelled out by falls at the fine end.

Further gains for the medium micron Merinos led to further overall gains and a strong finish on Thursday.  The 20 to 22 average MPGs were up by around 2% for the week.  Average Crossbred MPGs were up by amounts ranging from 1.2% to 3.1%.

The EMI is now 100¢ (-8.2%) less than in the same week last year and is 46¢ (4.3%) higher than at the start of the season.  The WMI is 89¢ (-7.2%) less than in the same week last year and is 75¢ (7%) higher than at the start of the season.

Among other countries, sales were in recess in South Africa.  In New Zealand, Wool Services International quoted fine crossbred (32 to 35 microns) prices as firm from the from the previous week in the South Island and 4 to 6% dearer from two weeks ago in the North Island.

Among other fibres, cotton Futures moved up again during the week.  May Futures closed at 86.88 US¢, up by 1.7% and July Futures closed at 87.57 US¢, up by 1.8%.

54,346 bales were on offer, compared with 47,686 bales last week.  7.1% were passed in, comprised of 4.8% in Sydney, 6.5% in Melbourne and 11.4% in Fremantle.  Pass-in rates for Merino fleece and skirtings were 7.3% and 8.5%, respectively.

50,480 bales were cleared to the trade.

The year-to-date offering continues to move slightly ahead of last year.  9,831 bales more (+0.7%) have been offered for sale than at the end of the same week last year (see table on the next page).  This trend is likely to continue, as the current expected offerings for the next three sales are 9.8% greater than last year.

It was a volatile week for the US exchange rate.  It moved down by over one cent on Monday, which financial analysts attributed to reports that the Governor of the Chinese Central Bank had made comments about the need for care in investment spending.  This was reversed on Tuesday after the Reserve Bank announced that it would keep the official Cash Rate unchanged at 3.0%.

It was a mixed week for skirtings types, rather than the stronger market seen  in many weeks.  This uncertainty was reflected in a higher pass-in rate for Merino skirtings than for Merino fleece.  As mentioned above, crossbred wools were is strong demand, with rises on each day of selling.  Oddments had more missed results, with most types easing slightly or being relatively unchanged.

Buyers for China were dominant, with support from buyers for India, Europe and Korea.

Sales will be held in Sydney, Melbourne and Fremantle next week, when 43,565 bales are currently rostered for sale.  Present estimates for the following two sales (Weeks 38 and 39) are 49,261 and 46,900 bales, respectively; an increase of 9.8% over the three sale period when compared with last year.

Australian Wool Industries Secretariat Inc


Must ReadView All

EU, Japan finalise Economic Partnership Agreement

Textiles | On 18th Dec 2017

EU, Japan finalise Economic Partnership Agreement

Building on the political agreement reached in principle during the...

WTO, ITC launch cotton portal to enhance transparency

Textiles | On 18th Dec 2017

WTO, ITC launch cotton portal to enhance transparency

The World Trade Organisation (WTO) and the International Trade Centre ...

India much behind China in containerised cargo capacity

Textiles | On 18th Dec 2017

India much behind China in containerised cargo capacity

India’s total containerised cargo capacity of 8.75 million...

Interviews View All

Deepak Jain
Baggout

We are using Facebook and Instagram to promote ourselves

Karan Toshniwal
Orange O Tec

Contemporary industry is paying more and more attention to the...

Varinder Singh Jawanda
Trendy Bharat

Sizing and fitting issues are inherent problems for companies expanding...

Riddhi Jain

Conceived in Europe and curated in New Delhi, NeceSera is a...

Hardik Sanghvi

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

Liz Manning

<div><b>Liz Manning</b>, Business Development Manager at Catexel, has...

Suresh Patel
Sidwin Fabric

Sidwin Fabric is a manufacturer and exporter of polypropylene textiles and ...

Kevin Nelson
TissueGen

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

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Pranav Mishra
Huemn

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

Vaanee Bhatia
Gritstones Clothing

<div>Delhi-based Gritstones Clothing offers quality and exemplary style...

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

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
68.1%
No
13.8%
Skip
18.1%

Total Votes: 94

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
62.8%
No
29.8%
Skip
7.4%

Total Votes: 94

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
87.2%
No
9.6%
Skip
3.2%

Total Votes: 94

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
81.9%
No
8.5%
Skip
9.6%

Total Votes: 94


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