Home / Knowledge / News / Textiles / Aussie wool prices down 2% last week
Aussie wool prices down 2% last week
01
Apr '13
The AWEX Regional Indicators finished 2.0% lower, on average, at sales in Sydney, Melbourne and Fremantle last week.  The US exchange rate rose by 0.9% to break above the 104¢ for the first time since mid-January.

This was the last sale for two weeks because of the traditional break in sales next week following Easter.

It was another week in which prices were affected by both softer demand and by a rising US exchange rate.  The fall in the EMI was 13¢ in US currency, but this translated into 22¢ in Australian currency because of the rise in the exchange rate.  Most types were affected, apart from the fine crossbreds and some oddments.

Tuesday’s market opened on a softer note, but soon found a new level at which trade could be done.  The Regional Indicators and Micron Price Guides were down across all micron ranges.  Wednesday’s sale was more of the same, with further falls across all micron ranges.  Trade reports indicate that the market eased towards the end of the day in Melbourne in what had been a large offering of 13,531 bales.

The EMI and WMI have slipped below their pre-Christmas values of 1072¢ and 1095¢, respectively.

The EMI is now 153¢ (-12.6%) less than in the same week last year and is 11¢ (-1%) less than at the start of the season.  The WMI is 144¢ (-11.7%) less than in the same week last year and is 10¢ (0.9%) higher than at the start of the season.

In other countries, the Cape Wools Indicator was down by 2.2% against a 0.9% depreciation of the Rand against the US$ and a 0.6% appreciation against the Euro.  In New Zealand, Wool Services International quoted mid-micron fleece (25.5 to 315 microns) as 2 to 4% dearer in the South Island and fine crossbred fleece (32 to 35 microns) as 1 to 2% dearer.

Among other fibres, cotton Futures moved up during the week.  July Futures were up by 1.7% to close at 89.81 US¢; and December Futures were up by 0.9% to 87.37 US¢.

43,730 bales were on offer, compared with 45,631 bales last week.  11.3% were passed in, comprised of 5.6% in Sydney, 12.0% in Melbourne and 16.0% in Fremantle.  Pass-in rates for Merino fleece and skirtings were 14.0% and 8.0%, respectively.

38,789 bales were cleared to the trade.

The year-to-date offering is 14,273 bales (1.0%) more than at the end of the same week last year (see table on the next page).  It is likely to stay around that value over the next two sales, based on expected offerings over that period.

The US exchange rate withstood the financial crisis in Cyprus as resolution appeared likely and a deal was finally agreed to.  As mentioned above, it rose above 104¢ for the first time in two months.  Some financial analysts suggest that it may remain relatively high, at least in the short term.  The Euro exchange rate continues to rise while the Euro weakens.

Must ReadView All

Textiles | On 9th Dec 2016

Heimtextil to host 230 exhibitors from 28 countries

Close to 230 exhibitors from over 28 countries are expected to...

Courtesy: CLO Virtual Fashion

Information Technology | On 9th Dec 2016

CLO expands 3D simulation technology in Europe

CLO Virtual Fashion, developers of 3D garment visualisation...

Courtesy: India ITME

Textiles | On 8th Dec 2016

Industry needs to create 1cr jobs in 3yrs: Kavita Gupta

Sharing several initiatives laid out by the government in R&D,...

Interviews View All

Amrit Sethia
SOIE

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

Pratik Bachkaniwala
Palod Himson Machines

Fabric processing machines are picking up

Giovanni Pizzamiglio, Paolo Crespi & Riccardo Robustelli
Epson, For.Tex & F.lli Robustelli

‘The percentage share of printing in the global textile market is pretty...

Kevin Nelson
TissueGen

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

Urs Stalder
Sanitized AG

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

Suresh Patel
Sidwin Fabric

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

Robert Brunner
Devereux

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

Silvia Venturini Fendi
Fendi s.r.l

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

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

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 2016

December 2016

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


Advanced Search