Home / Knowledge / News / Textiles / Weak rand boosts wool market
Weak rand boosts wool market
07
Feb '08
The sharp depreciation of the rand played a major role in pushing Cape Wools' Merino indicator to a fresh seasonal high of R66,35/kg (clean). This is up 3,1% on last week and up 18,6% on the opening level.

The rand fell to its lowest level against the US dollar in six months. The rand was trading at R7,64 against the dollar, which was down 6,4% on last week, and at R11,16 against the euro (-5,2%).

In Australia, the market pulled back 3,3% on last week, confirming the significant support provided by the cheaper rand in South Africa this week.

The finer end of the market posted the biggest increases with 19 microns and 20 microns gaining 4% to 5%.

Purchases were spread quite evenly among processors and grease wool exporters. This week also saw a smaller offering of 7 392 bales, which was almost 2 000 bales less than the previous week, and a sales percentage of 99% was achieved.

Major buyers were Standard Wool SA (1 881 bales); Modiano (989 bales); Chargeurs Wool (962 bales); Lempriere (Aus) Ltd (943 bales); Stucken (685 bales), ADF (678 bales), and Segard Masurel (601 bales).

Average price movements for AWEX-type fleeces, MF4 and MF5 of 70 and 80 mm were as follows: 19 microns gained 4,4% at R87,83/kg; 20 microns were up 5,4% at R76,85/kg; 21 microns were 1,6% dearer at R68,19/kg; 22 microns rose 5,4% at R65,70/kg, but there no quotes for 23, 24 and 25 microns due to insufficient quantities in these categories.

Next week, approximately 9 000 bales will come under the hammer.

Cape Wools SA

Must ReadView All

Textiles | On 9th Dec 2016

‘Less demand may make it hard to achieve export target’

The $48 billion target for textiles and garment exports for 2016-17...

Textiles | On 9th Dec 2016

GST Council may decrease tax rates in future: CBEC

The goods and services tax (GST) Council might reduce the proposed...

Courtesy: Gucci/Pantone

Textiles | On 9th Dec 2016

Pantone announces greenery as colour of the year 2017

Pantone, an X-Rite company and the global authority on colour and...

Interviews View All

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

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

Sanjay Desai & Ashish Mulani
True Colors

Digital textile printing will be the technology of the future

Claudia Kersten
Global Organic Textile Standard

‘GOTS is a very efficient supply chain management tool, especially for...

Ashok Desai
Bombay Textile Research Association

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

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Silke Brand-Kirsch
Schlegel und Partner

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

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

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 2016

December 2016

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

SUBSCRIBE


Browse Our Archives

GO


Advanced Search