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 Pass-in rates for Merino fleece and skirtings were 7.9% and 5.8%, respectively. 1,431 bales (3.0%) were withdrawn prior to sale and re-offered bales made up 7.2% of this week's offering.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

Textiles | On 29th Apr 2017

Textile sector may have uniform GST rate: Irani

The textile sector could have a uniform Goods and Services Tax (GST)...

Textiles | On 29th Apr 2017

EU rules needed to curb textile worker exploitation: MEPs

European Union (EU) rules are needed to oblige textile and clothing...

Apparel/Garments | On 29th Apr 2017

US retail operating growth to be 1.5-2.5% in 2017: Moody's

The forecast for operating income growth in the US over the next 12...

Interviews View All

Rahul Bhadani
Looksgud

Navigating through catalogues is a bit hasslesome

Mandeep Nagi
Shades of India

Women value something that is unique and has a flavour of India

C Kamatchisundaram
Voltas

ITME is an occasion not only to receive new leads but also to work on...

Larry L Kinn
Suominen Corporation

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

Suresh Patel
Sidwin Fabric

Sidwin Fabric is a manufacturer and exporter of polypropylene textiles and ...

Steve Cole
Xerium Technologies

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

Robert Brunner
Devereux

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

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

Madhu Jain
Madhu Jain

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

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:
April 2017

April 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



X