Home / Knowledge / News / Textiles / Wool market closes with marginal growth in last week
Wool market closes with marginal growth in last week
09
Feb '09
The Australian wool market finished 0.5% higher, on average, at sales in Sydney, Melbourne and Fremantle this week.

The AWEX EMI rose by 2¢ (+0.3%), ending the week at 743¢/kg. This reflected an unchanged Indicator in the North and an increase of 4¢ (+0.6%) in the South, with their corresponding Regional Indicators finishing the week at 769¢ and 722¢ clean, respectively. The Western Indicator rose by 6¢ (+0.8%), finishing the week at 718¢.

In a two day sale in Sydney and Melbourne, the AWEX EMI fell by 2¢ on Wednesday and rose by 4¢ on Thursday. The Western Indicator rose by 5¢ on Wednesday and by 1¢ on Thursday in a two day sale in Fremantle.

47,604 bales were on offer, compared with 44,090 bales last week, of which 8.7% were passed in, comprised of 6.5% in Sydney, 6.4% in Melbourne and 14.6% in Fremantle. Pass-in rates for Merino fleece and skirtings were 10.2% and 7.4%, respectively. 2,017 bales (4.1%) were withdrawn prior to sale and re-offered bales made up 16.9% of this week's offering.

The US exchange rate (source RBA) was 2.82¢ lower on Monday when compared with Thursday of last week. History suggests that the fall was related to the expected fall in official interest rates when the Reserve Bank met on Tuesday. The fall turned out to be 1.0% taking interest rate (3.25%) to a 45 year low. The US exchange rate was then up by 0.64¢ on Tuesday, by 0.93¢ on Wednesday and down by 0.40¢ on Thursday to close at 64.37¢, down 1.65¢ (-2.5%) since the last sale. The exchange rate against the Euro fell by 0.16 Euro cents (-0.3%) to close at 50.14 Euro cents on Thursday night. When looked at in other currencies, the AWEX EMI moved down by 11¢ (-2.2%) in US terms and was unchanged in Euro terms when compared with the previous sale.

Although prices were down in US currency, it was a good market with a stronger presence from China and the market holding its own in US currency (and up in A Dollars) on Thursday to finish on a strong note.

Changes in the Average AWEX Micron Price Guides (MPGs) for Merino wools varied from -0.8% (17.0 microns) to +1.5% (22.0 microns) with falls confined to the 17.0 to 18.0 micron range and all other changes being upwards. Average MPGs were down by 9¢ for 17.0 microns, by 4¢ for 17.5 microns, by 6¢ for 18.0 microns, up by 4¢ for 18.5 microns, by 4¢ for 19.0 microns and by 1¢ for 19.5 microns. The 20.0 micron wool average MPG was up by 6¢ clean, 21.0 microns by 10¢, 22.0 microns by 11¢, 23.0 microns by 9¢, and 24.0 microns by 2¢.

Merino skirtings were once again in keen demand with a general upward movement in prices. Crossbreds also had a good week with their average MPGs up by around 3¢ at the fine end, 7¢ for medium types and 11¢ for coarse crossbreds. Oddments had a mixed week with the Merino Cardings average MPG finishing up by 1¢.

Buyers for China again dominated this week's sales with support from India.

Sales will be held in Sydney, Melbourne, Launceston and Fremantle next week, when 50,807 bales are currently rostered for sale. Present estimates for the following two sales are 50,440 and 50,000 bales, respectively. A decrease of 3.8% over the three sale period when compared with last year. In the South, next week's Melbourne sale (22,283 bales) will be held on Tuesday and Wednesday and the Launceston sale (1,750 bales) will be held on Friday.

In South African sales, where 8,607 bales were on offer, the Cape Wools Indicator was down by 6.3% since last week against a 0.9% depreciation of the Rand against the US Dollar and a 1.4% appreciation against the Euro.

AWTA test data released this week showed that 19.8% less wool was tested in January taking the progressive figure to 9.3% compared with the current Production Forecasting Committee estimate of -7.5%.

Australian Wool Innovation (AWI)


Must ReadView All

Apparel/Garments | On 22nd Sep 2017

Govt announces new duty drawback rates for garments

The Government of India has today announced the new duty drawback...

Courtesy: ITMA

Textiles | On 22nd Sep 2017

ITMA 2019 to focus on smart garment technologies

ITMA 2019, the world's largest textile and garment technology...

Apparel/Garments | On 22nd Sep 2017

New US FTC rule for RN used on textile product labels

The US Federal Trade Commission recently streamlined requirements...

Interviews View All

Yash Agarwal
Hitansh Online

Every market region has its own culture and trends

Abhimanyu Singh Rathore & Barbara Anna Kosiorek
Kannbar

‘Blending cultures is the true beauty of fashion, where one’s imagination...

Headhonchos
Indian fashion industry

Cotton consumption will keep growing in the Indian fashion industry

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Mohammad Hassan
Biax Fiberfilm

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

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

Aditi Somani
Aditi Somani

Aditi Somani specialises in luxury fusion wear with international cuts and ...

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

September 2017

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

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
74.5%
No
12.8%
Skip
12.8%

Total Votes: 47

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
61.7%
No
25.5%
Skip
12.8%

Total Votes: 47

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
87.2%
No
6.4%
Skip
6.4%

Total Votes: 47

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
70.2%
No
10.6%
Skip
19.1%

Total Votes: 47


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