Home / Knowledge / News / Textiles / Clearance rates of wool again good
Clearance rates of wool again good
04
Jul '08
The Australian wool market finished 0.5% lower, on average, at sales in Sydney, Melbourne and Fremantle this week in the first sale of the 2008/09 season.

The AWEX EMI was unchanged, ending the week at 874¢/kg. This reflected a rise of 2¢ (+0.2%) in the North and a decrease of 5¢ (-0.6%) in the South, with their corresponding Regional Indicators finishing the week at 912¢ and 840¢ clean, respectively. The Western Indicator fell by 9¢ (-1.1%), finishing the week at 845¢.

In a two day sale in Sydney and Melbourne, the AWEX EMI rose by 2¢ on Wednesday and fell by 2¢ on Thursday. The Western Indicator rose by 1¢ on Wednesday and fell by 10¢ on Thursday in a two day sale in Fremantle.

Looking at the situation over the last twelve months, it was one of two halves, with rising prices in the first half followed by a falling market in the second half, before steadying over the last three sales. The EMI was 929¢ in Week 01, rising to 1,045¢ in Week 30 compared with 874¢ this week.

45,544 bales were on offer, compared with 40,292 bales at the last sale, of which 7.9% were passed in, comprised of 5.4% in Sydney, 8.6% in Melbourne and 9.6% in Fremantle. Pass-in rates for Merino fleece and skirtings were 7.9% and 5.8%, respectively. 1,431 bales (3.0%) were withdrawn prior to sale and re-offered bales made up 7.2% of this week's offering.

The US exchange rate (source RBA) was 0.59¢ higher on Monday when compared with Thursday of the last sale. It was then down by 0.73¢ on Tuesday, up by 0.46¢ on Wednesday and by 0.25¢ on Thursday to close at 96.24¢, up 0.57¢ (+0.6%) since the last sale.

The exchange rate against the Euro fell by 0.78 Euro cents (-1.3%) to close at 60.65 Euro cents on Thursday night. When looked at in other currencies, the AWEX EMI moved up by 5¢ (+0.6%) in US terms and was down by 7¢ (-1.3%) in Euro terms when compared with the previous sale.

The market remained firm this week against a United States exchange rate which again broke the 96¢ barrier. Clearance rates were again good and competition continued to be strong for the better types of wool. Superfine average Micron Indicators (MPGs) all moved up, apart from 18.5 microns, whereas the medium and broad Merino MPGs all eased.

Average AWEX Micron Price Guides (MPGs) were up by 2¢ for 17.0 microns, by 5¢ for 17.5 microns, by 7¢ for 18.0 microns, down by 9¢ for 18.5 microns, up by 10¢ for 19.0 microns and by 5¢ for 19.5 microns. The 20.0 micron wool average MPG was down by 9¢ clean, 21.0 microns by 11¢, 22.0 microns by 9¢, 23.0 microns by 10¢, and 24.0 microns by 3¢.

Skirtings continued to be strong demand, finishing the week on a firm note. Oddments again eased slightly with a 6¢ fall in the average Merino Cardings MPG. Crossbreds were generally unchanged among the fine and medium types and up at the coarse end, where their average MPGs were up by around 3¢.

Buyers for China were dominant, with strong support from buyers for Europe and India.


Must ReadView All

Global economic upswing became broader & stronger: IMF

Textiles | On 19th Apr 2018

Global economic upswing became broader & stronger: IMF

The global economic upswing that began around mid-2016 has become...

Courtesy: ITMA

Textiles | On 19th Apr 2018

ITMA 2019 expanding space due to overwhelming response

Due to overwhelming response, the exhibition space has been increased ...

BIDA’s Europe trip to showcase a different Bangladesh

Apparel/Garments | On 19th Apr 2018

BIDA’s Europe trip to showcase a different Bangladesh

The Bangladesh Investment Development Authority (BIDA) is taking a...

Interviews View All

Top executives
Textile industry, India

Such fairs are a must for industry to showcase new innovations

Frank Gossmann
Rotorcraft AG

‘RT3 motto is: Do not check millimetres, check colours.’

Rahul Bhadani
Looksgud

Navigating through catalogues is a bit hasslesome

Liz Manning

<div><b>Liz Manning</b>, Business Development Manager at Catexel, has...

Rikesh Mistry

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

Harmeet Singh

New Delhi-based Jogindra Industries Private Limited provides an assortment ...

Larry L Kinn
Suominen Corporation

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

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...

Anisha Chaudhari
Threads & Shirts

Threads &amp; Shirts is a freshly-tailored concept providing men/women a...

Cigdem Akin
Cigdem Akin

She has carved a niche for herself as the national brand of Turkey. Her...

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

Leave your Comments


April 2018

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
69.9%
No
12.6%
Skip
17.5%

Total Votes: 103

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
63.1%
No
29.1%
Skip
7.8%

Total Votes: 103

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
87.4%
No
8.7%
Skip
3.9%

Total Votes: 103

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
82.5%
No
7.8%
Skip
9.7%

Total Votes: 103


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