Home / Knowledge / News / Textiles / Cape Wools Merino indicator drops 3.5%
Cape Wools Merino indicator drops 3.5%
09
May '13
The continued difficult demand conditions affected this week’s wool sale and the Cape Wools Merino indicator dropped 3.5% compared with the previous sale a fortnight ago to close at R99 22/kg (clean).

With today’s result the gap between last season and this season has narrowed considerably.

The strengthening of the rand against the US dollar also weighed on prices. The average rate of the rand was R9 03 against the green back, which was up 1.5% against the average at the previous sale. It had also gained 0.7% against the euro.

Demand from China remains slow following weak demand from Europe, while the government has cut back on orders for woollen uniforms for government employees. These factors are also affecting business confidence.

A total of 10 867 bales was offered of which 99% was sold. Major buyers were Standard Wool (3 704 bales), Lempriere SA (2 477 bales), Modiano (1 931 bales), and Stucken & Co (883 bales).

Prices were down across the board with the broader end of the market dropping the most.

The average clean prices for the different categories good top-making (MF5), long fleeces (80-90 mm) were as follows: 18 microns dropped by 2.7% to R105 86/kg, 18,5 microns weakened by 1.4% to R105 80/kg, 19 microns were 0.1% cheaper at R105 32/kg, 19 5 microns dropped 5.5% to R102 43/kg, 20 microns shed 4.7% to R101 11/kg, 20 5 microns dropped by 4.6% to R100 74/kg, 21 microns weakened by 4.7% to R100,00/kg, 21 5 microns were down 3.5% to R99 91/kg, and 22 microns were 2.9% cheaper to close at R100 42/kg. 

No sale has been scheduled for next week. Sales will resume on 22 May when approximately 10 000 bales will be offered. This will also be the penultimate sale of the season with the final taking place on 5 June.

Cape Wools


Must ReadView All

Textiles | On 20th Sep 2017

India needs to double cotton farmers’ income: top official

India needs to double the income of cotton farmers and non-farmers...

Textiles | On 20th Sep 2017

Pakistan seeks more JVs with China: textile minister

The Pakistani Government wants to forge more joint ventures (JVs)...

Apparel/Garments | On 20th Sep 2017

Egypt’s garment exports touch $941 million in 8 months

Egypt's garment exports touched $941 million in the first eight...

Interviews View All

Anshul Sood
Oceedee

‘Indian footwear market is nascent and largely a trend follower’

Abhimanyu Singh Rathore & Barbara Anna Kosiorek
Kannbar

‘Blending cultures is the true beauty of fashion, where one’s imagination...

Spokesperson
Hugo Boss

'Hugo Boss works with carefully selected sourcing partners'

Eamonn Tighe
Nature Works LLC

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

Kerem Durdag
Biovation II LLC

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

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Jay Ramrakhiani
Occasions Elegance Wear

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

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer <b>Prathyusha Garimella</b> is known for blending ...

Bani Batra

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

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

September 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
74.5%
No
12.8%
Skip
12.8%

Total Votes: 47

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
61.7%
No
25.5%
Skip
12.8%

Total Votes: 47

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
6.4%
Skip
6.4%

Total Votes: 47

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
70.2%
No
10.6%
Skip
19.1%

Total Votes: 47


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