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

Courtesy: American Apparel

Apparel/Garments | On 25th Feb 2017

Gildan to make some American Apparel products outside US

Gildan Activewear, which recently acquired US fashion brand American...

Courtesy: Kolon Sport

Apparel/Garments | On 25th Feb 2017

Kolon Sport to set up JV with ANTA for Chinese market

Kolon Sport, an outdoor gear and clothing brand of Korea based Kolon...

Designer Karishma Jumani with Niraj Jawanjal, founder and director of IIFW. Courtesy: IIFW

Textiles | On 25th Feb 2017

IIFW to bring together premium lingerie brands

India Intimate fashion Week (IIFW), dedicated to showcasing the...

Interviews View All

Jurgen Gauger
Spreadshirt

‘Buying crowdsourced or creative designs are much more appealing to the...

Anavila Misra
Anavila Collection

Fashion shows are also encouraging and highlighting sustainable fashion

Nitin Soni
Dolphin Jingwei Machines

Taxation policies need to be made simpler

Marcel Alberts
Eurofibers

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

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...

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

Robert Brunner
Devereux

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

Ritu Kumar
Label Ritu Kumar

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

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
February 2017

February 2017

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

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search