Home / Knowledge / News / Textiles / Wool market down 3.5% for week
Wool market down 3.5% for week
29
May '09
The Australian wool market finished further 3.5% lower, on average, at sales in Sydney, Melbourne and Fremantle this week, taking the two week fall to -6.1% against a 3.4% appreciation of the US exchange rate.

The AWEX EMI fell by 29¢ (-3.6%), ending the week at 783¢/kg. This reflected falls of 33¢ (-3.9%) in the North and 26¢ (-3.3%) in the South, with their corresponding Regional Indicators finishing the week at 806¢ and 764¢ clean, respectively. The Western Indicator fell by 26¢ (-3.3%), finishing the week at 769¢.

In a two day sale in Sydney and Melbourne, the AWEX EMI fell by 17¢ on Wednesday and by 12¢ on Thursday. The Western Indicator fell by 26¢ on Wednesday in a one day sale in Fremantle.

40,111 bales were on offer, compared with 42,443 bales last week, of which 17.9% were passed in, comprised of 12.7% in Sydney, 16.3% in Melbourne and 29.0% in Fremantle. Pass-in rates for Merino fleece and skirtings were 23.3% and 9.8%, respectively. 1,894 bales (4.5%) were withdrawn prior to sale and re-offered bales made up 8.8% of this week's offering.

The US exchange rate (source RBA) was 0.57¢ higher on Monday when compared with Thursday of last week. It was then down by 0.05¢ on Tuesday, up by 0.50¢ on Wednesday and down by 0.77¢ on Thursday to close at 77.79¢, up 0.25¢ (+0.3%) since the last sale. The exchange rate against the Euro fell by 0.05 Euro cents (-0.1%) to close at 56.25 Euro cents on Thursday night. When looked at in other currencies, the AWEX EMI moved down by 21¢ (-3.3%) in US terms and by 17¢ (-3.7%) in Euro terms when compared with the previous sale.

This week's market was another case of two different fibre diameter ranges with the fine wools weakening again and medium and broad Merino types hanging on reasonably well. Wools up to 19.5 microns have come back by around 10% in the last two weeks, whereas 20 micron wools have come back by 5% and 21 to 24 micron wools by around 3%. The greater pressure on the finer types, and the fleece wools in particular, saw strong grower resistance to sell at these prices. The average pass-in rate for fleece wools was 23.3% and was said to be higher for fine wools.

Changes in the Average AWEX Micron Price Guides (MPGs) for Merino wools varied from -5.5% (18.5 microns) to 2.2% (20.0 and 24.0 microns). Average MPGs were down by 67¢ clean for 16.5 microns, by 64¢ for 17.0 microns, by 61¢ for 17.5 microns, by 54¢ for 18.0 microns, by 55¢ for 18.5 microns, by 37¢ for 19.0 microns and by 31¢ for 19.5 microns. The 20.0 micron wool average MPG was down by 18¢ clean, 21.0 microns by 22¢, 22.0 microns by 21¢, 23.0 microns by 19¢, and 24.0 microns by 16¢.

Prices for skirting types weakened, apart from in the South on Thursday. Prices for these types are still relatively good after several weeks of strong competition and so had a good clearance rate to the trade, with only 9.8% passed in. Fine crossbred types did reasonably well, withtheir average AWEX MPGs easing by around 2.5%. Medium and coarse crossbred average AWEX MPGs were down by 3.5 to 6.9%. Oddments generally held their ground, apart from an easing in the North on Thursday. The average AWEX Merino Cardings MPG was down by 2¢ (-0.4%)

Buyers for China dominated sales this week followed by good support from India.

Sales will be held in Sydney and Melbourne next week, when 32,420 bales are currently rostered for sale. Present estimates for the following two sales are 37,325 and 26,800 bales (Sydney and Melbourne only selling), respectively. An increase of 20.4% over the three sale period when compared with last year.

South African sales are in recess until 10 June.

Australian Wool Innovation

Must ReadView All

Apparel/Garments | On 28th Feb 2017

Delta Galil's Q4 operating profit jumps 80%

In the three months to December 31, 2016, operating profit at apparel ...

View of YiwuTex 2016; Courtesy: YiwuTex

Textiles | On 28th Feb 2017

Smart knitting system to grace 18th YiwuTex 2017

The thematic functional knitting machinery zone at the 18th YiwuTex...

Textiles | On 28th Feb 2017

Over 100 exhibitors expected to participate in IATF

Over a 100 exhibitors are expected to showcase their products at the...

Interviews View All

Prabu Mohanram
Balavigna Weaving Mills Pvt Ltd

The biggest challenge that the weaving industry faces is high price

Siddharth Biyani
Mangalam Industries Pvt Ltd

‘The manufacturing sector is improving day-by-day, becoming better in...

Ghanshyam Ghoghari
Kimora Fashion

Bridalwear is not about reds and whites anymore

Kevin Nelson
TissueGen

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

Kai Poehler
Voith Paper GmbH & Co. KG

The glass mat industry is growing by five to eight per cent annually. Kai...

Ashok Desai
Bombay Textile Research Association

Bombay Textile Research Association (BTRA) is a leading name in textile...

Igor Chapurin
Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

Robert Brunner
Devereux

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

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
February 2017

February 2017

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

SUBSCRIBE


Browse Our Archives

GO


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