Home / Knowledge / News / Textiles / Economic crisis pushes wool prices down
Economic crisis pushes wool prices down
Feb '09
The deepening global economic crisis continues to impact negatively on the wool market and Cape Wools' Merino indicator shed 6,3% compared with last week to close at R43,68/kg (clean). This is down 21% on the opening level but still is 2,4% above its low posted in October 2008.

Buyers say business conditions have deteriorated and orders from most regions, but particularly from Europe, have declined drastically as the economic crisis begins to bite.

The rand, which at R10,02 had gained 0,9% against the US dollar compared with last week's exchange rate, put further pressure on the market prices.

A fairly low sales percentage was obtained when only 86% of the 8 607 bales on offer changed hands. Major buyers were Standard Wool SA (2 168 bales); Lempriere SA (1 862) bales); Stucken (1 242 bales) and Segard Masurel 1 071( bales).

Average prices for long fleece wools were down across the board.

Average prices for AWEX types MF4 and MF 5 (70mm to 80 mm) were as follows: 19 microns dropped 8,4% to R56,48/kg; 20 microns were down 3% to R49,19/kg; 21 microns were 3% cheaper at R46,57/kg and 22 microns shed 1,8% to R45,72/kg. There were no quotes for 23 microns to 25 microns.

Approximately 9 000 bales will be offered at next week's sale.

Cape Wools 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

Claudia Kersten
Global Organic Textile Standard

‘GOTS is a very efficient supply chain management tool, especially for...

C. Dhandayuthapani
Mag Solvics Pvt. Ltd

ITME 2016 exploited our full strength like never before

Victor Chao

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

Marcel Alberts

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

Kevin Nelson

Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Pranav Mishra

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

Ritu Kumar
Label Ritu Kumar

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

Judy Frater
Somaiya Kala Vidya

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

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

February 2017

February 2017

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


Browse Our Archives


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