Home / Knowledge / News / Textiles / Wool market finishes 1.2% higher
Wool market finishes 1.2% higher
19
Sep '08
The Australian wool market finished 1.2% higher, on average, at sales in Newcastle, Melbourne and Fremantle this week.

The AWEX EMI rose by 15¢ (+1.7%), ending the week at 896¢/kg. This reflected rises of 23¢ (+2.5%) in the North and 9¢ (+1.1%) in the South, with their corresponding Regional Indicators finishing the week at 939¢ and 860¢ clean, respectively. The Western Indicator fell by 1¢ (-0.1%), finishing the week at 845¢.

In a three day sale in Newcastle and a two day sale in Melbourne, the AWEX EMI rose by 4¢ on Tuesday, by 9¢ on Wednesday and by 2¢ on Thursday. The Western Indicator rose by 1¢ on Wednesday and fell by 2¢ on Thursday in a two day sale in Fremantle. As will be seen below, the difference between the East and the West was due to the relative absence of fine wools in the West.

49,532 bales were on offer, compared with 43,183 bales last week, of which 8.2% were passed in, comprised of 2.6% in Newcastle, 10.2% in Melbourne and 13.9% in Fremantle. Pass-in rates for Merino fleece and skirtings were 8.2% and 8.0%, respectively. 1,251 bales (2.5%) were withdrawn prior to sale and re-offered bales made up 8.1% of this week's offering.

The US exchange rate (source RBA) fluctuated wildly as global financial news was dominated by events in the United States and the knock-on effects through the world. It was 2.95¢ higher on Monday when compared with Thursday of last week, only to be down by 3.52¢ on Tuesday, up by 0.85¢ on Wednesday and down by 0.54¢ on Thursday to close at 79.36¢, down 0.26¢ (-0.3%) since the last sale.

The exchange rate against the Euro fell by 1.75 Euro cents (-3.1%) to close at 55.27 Euro cents on Thursday night. When looked at in other currencies, the AWEX EMI moved up by 10¢ (+1.4%) in US terms and was down by 7¢ (-1.4%) in Euro terms when compared with the previous sale.

It was another generally good, although mixed, week for growers, with strong competition for a good quality offering of superfine wool in Newcastle and for the better superfine types in Melbourne. Other Merino types did less well with week-on-week changes ranging from small decreases to small rises.

Average AWEX Micron Price Guides (MPGs) were up by 29¢ clean for 16.5 microns, by 33¢ for 17.0 microns, by 47¢ for 17.5 microns, by 44¢ for 18.0 microns, by 29¢ for 18.5 microns, by 9¢ for 19.0 microns and by 6¢ for 19.5 microns. The 20.0 micron wool average MPG was up by 2¢ clean, 21.0 microns was unchanged, 22.0 microns was down by 2¢, 23.0 microns by 7¢, and 24.0 microns was up by 3¢.

Skirting types were in strong demand all week, especially those at the fine end and those with lower VM levels. Oddments were up in Newcastle, but finished on a similar level to last week in the South and the West. Crossbred average MPGs rose by around 8¢ at the fine end, by 13¢ for medium types and by 7¢ at the coarse end on top of last week's good gains.

Buyers for China were dominant with support from buyers for Italy in Newcastle where the competition was reported as very strong, particularly over the first two days.

Must ReadView All

Textiles | On 21st Feb 2017

Net profit at Indorama Ventures zooms 145% in 2016

Net profit at Thailand headquartered and Aloke Lohia led Indorama...

Information Technology | On 21st Feb 2017

ThreadSol launches IntelloBuy & IntelloCut in Vietnam

ThreadSol, the pioneer of enterprise material management for sewn...

Textiles | On 21st Feb 2017

GST to reduce documentation for logistics firms: CBRE

The Goods and Services Tax (GST) is likely to result in a reduction...

Interviews View All

Mohammad Mamun Ar Rashid
UL VS Bangladesh Ltd

Productivity, creativity and innovation play a vital role in the growth of ...

Amardeep Singh
Orient Craft

'In export markets, the trend in terms of embroidery, is towards matte...

Sonia Agarwal
Whitenife

‘The terms eco-friendly and organic are common but everyone perceives them ...

Mohammad Hassan
Biax Fiberfilm

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

Larry L Kinn
Suominen Corporation

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

Giorgio Mantovani
Corman S.p.A

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

Karan Arora
Karan Arora

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

Robert Brunner
Devereux

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

Sonam & Paras Modi
SVA

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

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