Home / Knowledge / News / Textiles / Wool prices drop sharply at opening sale
Wool prices drop sharply at opening sale
21
Aug '08
In the wake of the slow-down in the global economy, escalating costs and a stronger currency, wool prices dropped sharply at the opening sale of the 2008/09 season, and Cape Wools' Merino indicator closed down 9.6% on the closing sale of the previous season at R55.51/kg (clean).

The market also tracked the Australian market, which opened at much lower level two weeks ago but which has since recouped some of its losses.

The stronger rand, which at R7.72 was 2.5% stronger against the US dollar compared to the closing sale, exerted strong downward pressure on the market. It had also gained 7% against the euro, trading at R11.39.

Prices were down across all micron categories. Quality long fine wools, however, fetched higher than average prices. Two bales of 17.3 microns offered by Mr. J.F. Joubert of Aliwal North were sold for R81.50 (greasy) each, while a further two bales measuring 16,8 microns went for R75,50 (greasy). The buyer was New England Wool.

A total of 12600 bales was offered of which 80% was sold. Major buyers were Modiano (2 760 bales); Stucken (2 289 bales); Segard Masurel (1 934 bales); Standard Wool SA (1 126 bales), and Chargeurs Wool (996 bales).

Average price movements for AWEX-type fleeces, MF4 and MF5 of 70 and 80 mm were as follows: 19 microns weakened 8.4% at R70.35/kg, 20 microns were down 10.6% at R60.75/kg; 21 microns dropped 11.1% at R56.44/kg; 22 microns shed 9.4% at R55.08/kg, 23 microns were down 8.3 % at R54.71/kg, 24 microns were 6.1% cheaper at R51.76/kg, but there were no quotes for 25 microns due to insufficient quantities in this categories.

No sale has been scheduled for next week. Sales will resume on 3 September when approximately 10000 bales will be on offer.

Capewools SA


Must ReadView All

Sri Lanka’s apparel exports rise after EU GSP+ reinstatement

Apparel/Garments | On 18th Nov 2017

Sri Lanka’s apparel exports rise after EU GSP+ reinstatement

Sri Lanka’s apparel exports from January to September 2017 has...

Bangladesh plans 2 leather estates in Rajshahi, Chittagong

Apparel/Garments | On 18th Nov 2017

Bangladesh plans 2 leather estates in Rajshahi, Chittagong

Bangladesh Prime Minister Sheikh Hasina has said two more leather...

ASEAN, Hong Kong sign free trade agreement

Textiles | On 18th Nov 2017

ASEAN, Hong Kong sign free trade agreement

The Association of Southeast Asian Nations (ASEAN) and Hong Kong...

Interviews View All

Victor Chao
Esmetex

‘In future, clothing boundary lines will become increasingly blurred.’

Subhashini Srinivasan
The S Studio

Ethnicwear market will see an upward trend if uniqueness and quality are...

Janak Dhamanwala & Sunil Dhamanwala
Jansun

Moving towards sustainability is also a social change

Erik Sy

Manila-based CustomThread is a start-up offering premium custom apparel...

Suresh P Bagrecha

Komal Texfab, founded in 1981, is into manufacturing of knitted fabrics,...

Hardik Sanghvi

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

Marcel Alberts
Eurofibers

Coating at a fibre level is a practice not usually seen in the...

Lynda Kelly
Suominen Corporation

Suominen Corporation is a manufacturer of nonwovens as roll goods for...

Steve Cole
Xerium Technologies

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

Sanjukta Dutta
Sanjukta's Studio

<b>Sanjukta Dutta</b> creates unique garments by clubbing prints of...

Divvya and Nidhhi Gambhir
Walnut

<b>Divvya and Nidhhi Gambhir</b> started their career with the launch of...

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

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

November 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
68.5%
No
12.4%
Skip
19.1%

Total Votes: 89

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
30.3%
Skip
7.9%

Total Votes: 89

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
86.5%
No
10.1%
Skip
3.4%

Total Votes: 89

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
80.9%
No
9.0%
Skip
10.1%

Total Votes: 89


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