Home / Knowledge / News / Textiles / Wool market finishes 0.3% higher
Wool market finishes 0.3% higher
09
Mar '09
The Australian wool market finished 0.3% higher, on average, at sales in Sydney, Melbourne and Fremantle this week.

The AWEX EMI rose by 3¢ (+0.4%), ending the week at 725¢/kg. This reflected a fall of 3¢ (-0.4%) in the North (which was coming off a Newcastle sale last week), and an increase of 7¢ (+1.0%) in the South, with their corresponding Regional Indicators finishing the week at 749¢ and 707¢ clean, respectively. The Western Indicator rose by 3¢ (+0.4%), finishing the week at 697¢.

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

47,621 bales were on offer, compared with 49,575 bales last week, of which 8.0% were passed in, comprised of 10.7% in Sydney, 6.5% in Melbourne and 5.9% in Fremantle. Pass-in rates for Merino fleece and skirtings were 8.2% and 9.5%, respectively. 2,615 bales (5.2%) were withdrawn prior to sale and re-offered bales made up 14.2% of this week's offering.

The US exchange rate (source RBA) was 1.76¢ lower on Monday when compared with Thursday of last week. It was then up by 0.64¢ on Tuesday, down by 0.64¢ on Wednesday and up by 1.07¢ on Thursday to close at 64.33¢, down 0.69¢ (-1.1%) since the last sale. The exchange rate against the Euro fell by 0.06 Euro cents (-0.1%) to close at 50.99 Euro cents on Thursday night. When looked at in other currencies, the AWEX EMI moved down by 3¢ (-0.6%) in US terms and was up by 1¢ (+0.3%) in Euro terms when compared with the previous sale.

As is often the case, the wide fluctuations in the US exchange rate appeared to be at least partly related to the timing of the monthly meeting of the Reserve Bank on Tuesday and the impending release of key Australian economic data.

It was another steady week with the market relatively unchanged in Australian and US currency for the second week in a row, despite the wide fluctuations in the US exchange rate. The market finished slightly up on Wednesday and held onto those gains in a much larger sale on Thursday. It was also a better week for the fine wools with all of their MPGs finishing above the previous week's level and doing better than the medium and broader types. Some better type fine wools attracted keen competition in the South yesterday.

Changes in the Average AWEX Micron Price Guides (MPGs) for Merino wools varied from -0.7% (21.0 microns) to +1.9% (18.0 microns. Average MPGs were up by 8¢ clean for 16.5 microns, by 17¢ for 17.0 microns, by 14¢ for 17.5 microns, by 20¢ for 18.0 microns, by 7¢ for 18.5 microns, by 4¢ for 19.0 microns and by 5¢ for 19.5 microns. The 20.0 micron wool average MPG was down by 3¢ clean, 21.0 microns by 5¢, 22.0 microns by 1¢, 23.0 microns was up by 1¢, and 24.0 microns was down by 3¢.

Demand was strong for Merino skirtings, particularly in the South where good gains werereported on both days. Crossbreds had a mixed week, with some gains on Wednesday followed by falls yesterday to finish down in all micron ranges apart from 28 microns where the average MPG was up by 2¢. Oddments were up, apart from the first day's selling in the North where there was an easing after the previous week's sale in Newcastle. The Merino Cardings average MPG continued its upward movement since Christmas, adding another 5¢ this week.


Must ReadView All

Courtesy: American Silk Mills

Textiles | On 18th Oct 2017

Sutlej Textiles adds American Silk Mills to its portfolio

Sutlej Textiles and Industries Ltd (STIL) has announced the...

Arvind Limited executive directors Punit Lalbhai (left) and Kulin Lalbhai explaining the project to Gujarat chief minister Vijay Rupani. Courtesy: Arvind Ltd

Apparel/Garments | On 18th Oct 2017

Arvind to set up mega apparel facility in Gujarat

Arvind Limited, one of India’s largest textile to retail...

Cotton stocks accumulating everywhere outside of China

Textiles | On 18th Oct 2017

Cotton stocks accumulating everywhere outside of China

Global cotton stocks outside of China are expected to rise by nearly...

Interviews View All

Marazban F Velati
Sutlej Textiles & Industries limited

No training can be effective till the candidate believes in it.

Abhimanyu Singh Rathore & Barbara Anna Kosiorek
Kannbar

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

Yashiki Gumber
Sahiba Fabrics

Fabric does not restrict us from fashion trends

Suresh P Bagrecha

Komal Texfab, founded in 1981, is into manufacturing of knitted fabrics,...

Nitesh Mittal

Kusumgar Corporates is a leading manufacturer of technical textiles and...

Liz Manning

<div><b>Liz Manning</b>, Business Development Manager at Catexel, has...

Marten Alkhagen
Swerea IVF AB

Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Kevin Nelson
TissueGen

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

Ritu Kumar
Label Ritu Kumar

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

Aditi Somani
Aditi Somani

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

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer <b>Prathyusha Garimella</b> is known for blending ...

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

October 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
77.3%
No
13.6%
Skip
9.1%

Total Votes: 66

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
60.6%
No
28.8%
Skip
10.6%

Total Votes: 66

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
84.8%
No
10.6%
Skip
4.5%

Total Votes: 66

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
74.2%
No
12.1%
Skip
13.6%

Total Votes: 66


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