Home / Knowledge / News / Textiles / Wool prices rise first time in six weeks
Wool prices rise first time in six weeks
13
Nov '08
The sharp decline in the value of the rand and keen competition gave this week's sale a welcome boost and Cape Wools' Merino indicator gained 6.5% compared with last week to close at R45,41/kg (clean).

This was the first price increase in six weeks and follows a particularly tough October, during which the indicator fell by almost 19%. The Australian market also strengthened at this week's sales.

The sale was marked by strong competition from grease-wool exporters and local processors alike for the 8 230 bales on offer.

Major buyers were Standard Wool SA (1883 bales); Segard Masurel SA (1332 bales); Lempriere (AUS) (1285 bales); Chargeurs Wool (1 269 bales); Modiano (1165 bales), and Stucken (1061 bales). A high sales percentage of 98% was achieved.

The rand was under pressure as risk aversion crept back into markets and traded sharply down against major currencies. At R10,27 it was down 6,7% against the US dollar compared with last week's exchange rate, and at R12,90 it was 4,2% weaker against the euro.

The price of all long Merino types were up. Medium wools, however, particularly 21 microns and 22 microns, gained the most and rose nearly 10% and 7% respectively.

Average price movements for good quality long (65 - 95mm) Merino fleeces (spinners' and good topmakers' styles) were as follows: 19 microns gained 2,4% to R59,84/kg; 20 micron rose 4,4% at R49,98/kg; 21 microns were 9,7% dearer at R47,39/kg and 22 microns were up 7,4% at R45,45/kg. There were no quotes for 23 microns to 25 microns.

Approximately 10000 bales will come under the hammer at next week's sale.

Cape Wools'

Must ReadView All

Apparel/Garments | On 28th May 2017

Over 45% US retailers to use AI in next 3 years: Report

Over 45 per cent retailers in the US plan to utilise artificial...

Neelesh Hundekari speaking at the event. Courtesy: Subir Ghosh

Textiles | On 27th May 2017

Fabric of Change initiative announces €250000 scaling fund

The Fabric of Change initiative of Ashoka and the C&A Foundation is...

Apparel/Garments | On 28th May 2017

Naked Brand, Bendon sign agreement to reorganise

Naked Brand Group, a fashion and lifestyle brand, and Bendon Limited, ...

Interviews View All

Mohammad Mamun Ar Rashid
UL VS Bangladesh Ltd

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

Frank Gossmann
Rotorcraft AG

‘RT3 motto is: Do not check millimetres, check colours.’

Awen Delaval
Samatoa

'Natural fibres are appreciated for traditional authenticity'

Steve Cole
Xerium Technologies

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

Marcel Alberts
Eurofibers

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

Mohammad Hassan
Biax Fiberfilm

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

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

Judy Frater
Somaiya Kala Vidya

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

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

news category


Related Categories:
May 2017

May 2017

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

SUBSCRIBE


Browse Our Archives

GO


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