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 23rd Jun 2017

Textile ministry organises training workshop on GST

The ministry of textiles had organised training workshop on GST which ...

Apparel/Garments | On 23rd Jun 2017

Uware Brands into licensing agreement with Polaroid

Uware Brands has entered into a licensing agreement with Polaroid for ...

Textiles | On 23rd Jun 2017

Ralph Lauren ex-president Tiger of Sweden's new CEO

Hans-Christian Meyer, former president of Ralph Lauren Corporation,...

Interviews View All

Yash Agarwal
Hitansh Online

Every market region has its own culture and trends

Nitin Bhatia
Trend Arrest

Setting up a brand for online selling is easy, but running the brand is not

Rahuul Jashnani
Jashn

‘Online economy has changed the whole dynamics of buying habits.’

Mohammad Hassan
Biax Fiberfilm

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

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Ashok Desai
Bombay Textile Research Association

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

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

Robert Brunner
Devereux

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

Judy Frater
Somaiya Kala Vidya

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

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

news category


Related Categories:
June 2017

June 2017

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

SUBSCRIBE


Browse Our Archives

GO


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