Home / Knowledge / News / Textiles / Wool market remains firm this week
Wool market remains firm this week
27
Jun '08
The Australian wool market finished 0.4% higher, on average, at sales in Sydney, Melbourne and Fremantle this week.

The AWEX EMI rose by 1¢ (+0.1%), ending the week at 874¢/kg. This reflected a fall of 2¢ (-0.2%) in the North and an increase of 5¢ (+0.6%) in the South, with their corresponding Regional Indicators finishing the week at 910¢ and 845¢ clean, respectively. The Western Indicator rose by 7¢ (+0.8%), finishing the week at 854¢.

In a two day sale in Sydney and Melbourne, the AWEX EMI fell by 1¢ on Wednesday and rose by 2¢ on Thursday. The Western Indicator rose by 7¢ on Wednesday in a one day sale in Fremantle.

40,292 bales were on offer, compared with 19,646 bales last week (when only Sydney and Melbourne sold), of which 8.2% were passed in, comprised of 5.4% in Sydney, 7.8% in Melbourne and 12.5% in Fremantle. Pass-in rates for Merino fleece and skirtings were 7.7% and 9.0%, respectively. 1,302 bales (3.1%) were withdrawn prior to sale and re-offered bales made up 15.5% of this week's offering.

The US exchange rate (source RBA) was 1.28¢ higher on Monday when compared with Wednesday of last week. It was then down by 0.16¢ on Tuesday, up by 0.40¢ on Wednesday and was unchanged on Thursday to close at 95.67¢, up 1.52¢ (+1.6%) since the last sale.

The exchange rate against the Euro rose by 0.59 Euro cents (+1.0%) to close at 61.43 Euro cents on Thursday night. When looked at in other currencies, the AWEX EMI moved up by 14¢ (+1.7%) in US terms and by 6¢ (+1.1%) in Euro terms when compared with the previous sale.

The market remained firm this week against a rising United States exchange rate. Clearance rates were very good, particularly on Thursday when the pass-in rate was 5.3%. Competition continued to be strong for the better types of wool, with prices lifting on both days of selling. AWEX reported that an 11.6 micron lot from the famous Hillcreston/Pinehill brand sold for 269,000 cents in Sydney on Thursday.

This was the finest diameter ever for a lot offered at auction.

Average AWEX Micron Price Guides (MPGs) were up by 12¢ clean for 16.5 microns, by 7¢ for 17.0 microns, by 9¢ for 17.5 microns, by 3¢ for 18.0 microns, down by 6¢ for 18.5 microns, by 7¢ for 19.0 microns and by 6¢ for 19.5 microns. The 20.0 micron wool average MPG was down by 4¢ clean, 21.0 microns was up by 2¢, 22.0 microns by 9¢, 23.0 microns by 6¢, and 24.0 microns by 3¢.

Skirtings continued to be strong demand on both days of selling while oddments eased slightly with a 5¢ fall in the average Merino Cardings MPG. All crossbred types were easier this week, with their average MPGs falling by 11 to 15¢ at the fine end and 5 to 7¢ for medium and coarse types.
Once again, the majority of the wool was bought by buyers for China, with strong support from buyers for India.

Sales will be held in Sydney, Melbourne and Fremantle next week, when 46,259 bales are currently rostered for sale. The present estimate for the following sale is 35,840 bales, resulting in an increase of 14.1% over the two sale period when compared with last year. The 14.1% increase in the offering needs to be kept in perspective as there was no sale in Week 2 last year and 72,000 bales were offered in Sale 1. South African sales are in recess until 20 August.

Australian Wool Innovation Limited


Must ReadView All

Courtesy: American Silk Mills

Textiles | On 18th Oct 2017

Sutlej Textiles adds American Silk Mills to its portfolio

Sutlej Textiles and Industries Ltd (STIL) has announced the...

Arvind Limited executive directors Punit Lalbhai (left) and Kulin Lalbhai explaining the project to Gujarat chief minister Vijay Rupani. Courtesy: Arvind Ltd

Apparel/Garments | On 18th Oct 2017

Arvind to set up mega apparel facility in Gujarat

Arvind Limited, one of India’s largest textile to retail...

Cotton stocks accumulating everywhere outside of China

Textiles | On 18th Oct 2017

Cotton stocks accumulating everywhere outside of China

Global cotton stocks outside of China are expected to rise by nearly...

Interviews View All

Nuno Venda
ROQ

‘There has been an increase in demand for water based inks, rather than...

Rahuul Jashnani
Jashn

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

Smarth Bansal
Colorjet India Limited

We would like to venture more companies into the Indian market

Abhishek Pachauri

Reckon Industries adapts latest systems for manufacturing from designing...

Hardik Sanghvi

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

Rikesh Mistry

Jupiter Comtex Pvt Ltd, established in 1973, started its textile machinery ...

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Eric Scholler
Groz-Beckert

The Indian market has huge potential in technical textiles, and by far,...

Larry L Kinn
Suominen Corporation

Larry L Kinn, Senior Vice President - Operations Americas of Suominen...

Madhu Jain
Madhu Jain

She grew up in the walled city of Old Delhi, completed her studies, and...

Tony Ward
Tony Ward

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

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

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

October 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
77.9%
No
13.2%
Skip
8.8%

Total Votes: 68

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
61.8%
No
27.9%
Skip
10.3%

Total Votes: 68

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
85.3%
No
10.3%
Skip
4.4%

Total Votes: 68

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
75.0%
No
11.8%
Skip
13.2%

Total Votes: 68


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