Home / Knowledge / News / Textiles / Prices of wool touch new lows
Prices of wool touch new lows
Oct '08
Wool prices declined for a second week in a row on the back of the uncertainty caused by the turmoil in global financial markets, and Cape Wools' Merino indicator finished the day 5,1% softer at R49,18/kg (clean).

This was the first time since December 2006 for the indicator to fall to below the key R50/kg level. Although the average indicator for the season to date is 14% down year-on-year, it still is 10% higher than the average indicator for the 2007/08 season.

Buyers report a sharp decline in orders since clients are reluctant to buy in the current economic climate and unstable currencies. In Australia, the market indicator fell 2,2%.

Unlike last Wednesday, the rand was fairly stable during the morning, trading at R9,15 to the US dollar at mid-morning. At R12,47, it was largely unchanged against the euro compared with last Wednesday's exchange rate.

Prices were lower across the board. In the long Merino wool category, the broader end of the market, particularly 22 microns and 23 microns, was the most affected, declining by
over 6%.

The offering comprised 6 171 bales of which 86% was sold. Major buyers were Modiano (1 216 bales); Standard Wool SA (1 016 bales); Stucken (973 bales), and Chargeurs Wool (784 bales).

Average price movements for AWEX-type fleeces MF4 and MF5 of 70 and 80 mm were as follows: 19 microns were down 1,9% to R65,49/kg, 20 microns fell 4,9% to R53,80/kg; 21 microns were 4,5% softer at R50,14/kg; 22 microns declined by 6,3% to R48,03/kg, and 23 microns were 6,6% cheaper at R46,24/kg. There were no quotes for 24 and 25 microns.

Approximately 10,500 bales have been rostered for next week's sale.


Must ReadView All

Apparel/Garments | On 21st Oct 2016

China’s garment retail sales grow 7.2% in Jan-Sept ’16

Retail sales of garments, footwear, hats and knitwear of Chinese...

Mike Preston, executive director of the Arkansas Economic Development Commission (AEDC), signing MoU with Tang from Suzhou Tianyuan Garments company. Courtesy: Government of Arkansas

Apparel/Garments | On 21st Oct 2016

Suzhou Tianyuan to open $20 mn garment factory in US

Suzhou Tianyuan Garments company, a Chinese manufacturer of casual...

Textiles | On 21st Oct 2016

Pakistan’s textile exports fall 5.96% y-o-y in Q1 FY17

The value of textile and garment exports made by Pakistan decreased...

Interviews View All

Dinaz Madhukar
DLF Emporio and DLF Promenade

‘Each event and promotion is planned out keeping in mind the business of...

Sanjay Yagnik
Maa Tex Speciality

‘We suggest reducing dosage of sizing chemicals to reduce sludge...

Milind Khandwe
Hindoostan Innovation Centre

‘Modern technical textile is an indispensable tool for science and...

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Suresh Patel
Sidwin Fabric

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

Larry L Kinn
Suominen Corporation

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

Ritu Kumar
Label Ritu Kumar

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

Robert Brunner

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

Sonam & Paras Modi

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


Letter To Editor

(Max. 8000 char.)

Search Companies

October 2016

October 2016

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


Browse Our Archives


Advanced Search