Home / Knowledge / News / Textiles / Wool market closes on firmer note
Wool market closes on firmer note
18
Sep '08
Amidst the turmoil in international financial and commodity markets, the wool market was firmer at this week's sale and Cape Wools' Merino indicator gained 1,3% on last week to close the day at R53,46/kg (clean).

A weaker currency, a small offering and a 2,6% rise in the Australian market indicator since last Wednesday contributed to this improvement in prices, halting the downward slide seen since the opening sale of the season.

Compared with exchange rates at last week's auction, the rand was weaker by 1,1 % against the US dollar, trading at R8,08, and had also depreciated by 1,8% against the euro to R11,50.

Prices of all long Merino categories were between 1% and 2% firmer.

The offering comprised 5 353 bales of which 94% was sold. Major buyers were Modiano (1 465 bales); Segard Masurel (1 203 bales); Standard Wool SA (1 072 bales); and Stucken (619 bales).

Average price movements for AWEX-type fleeces MF4 and MF5 of 70 and 80 mm were as follows: 19 microns strengthened by 0,7% at R68,10/kg, 20 microns were up 1,4% at R58,24/kg; 21 microns gained 2,1% at R54,19/kg; 22 microns rose 1,7% at R52,71/kg, 23 microns gained 1,9% at R51,02/kg.

There were no quotes for 24 and 25 microns due to insufficient quantities in these particular categories.

Due to next Wednesday being a public holiday, the next sale will be held on Tuesday (23 September) when approximately 7 500 bales will be offered.

Capewools

Must ReadView All

Courtesy: H&M

Apparel/Garments | On 30th Mar 2017

H&M group's sales increase 7% in 3 months to Feb '17

The H&M group's sales including VAT amounted to SEK 54,369 million...

Textiles | On 30th Mar 2017

Vietnam’s textile & garment exports earn $4bn in Jan-Feb

Vietnam earned $4 billion from textile and garment exports in the...

Textiles | On 30th Mar 2017

India Inc should work for July 1 GST roll out: Fin sec

The Goods and Services Tax (GST) will take India into a very exciting ...

Interviews View All

Victor Chao
Esmetex

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

Binoy Ravjani
Hero's Fashion

‘One of the recent trends in hand block printing is the indigo process,...

Abhishek Samdaria
Reflete

GST will certainly reduce a lot of paperwork in future

Mohammad Hassan
Biax Fiberfilm

About one in every 20 patients picks up an infection while hospitalised....

Giorgio Mantovani
Corman S.p.A

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

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Sanjukta Dutta
Sanjukta's Studio

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

Rupa Sood and Sharan Apparao
Nayaab

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

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

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
March 2017

March 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