Home / Knowledge / News / Textiles / AWEX Merino Cardings MPG lifts by 14¢
AWEX Merino Cardings MPG lifts by 14¢
14
Aug '09
The Australian wool market finished 3.5% higher, on average, at sales in Sydney, Melbourne and Fremantle this week as exchange rates weakened slightly and competition was strong.

The AWEX EMI rose by 29¢ (+3.7%), ending the week at 803¢/kg clean. This reflected rises of 26¢ (+3.3%) in the North and 30¢ (+4.0%) in the South, with their corresponding Regional Indicators finishing the week at 822¢ and 789¢ clean, respectively. The Western Indicator rose by 24¢ (+3.2%), finishing the week at 782¢.

In a two day sale in Sydney and Melbourne, the AWEX EMI rose by 25¢ on Wednesday and by 4¢ on Thursday. The Western Indicator rose by 24¢ on Wednesday in a one day sale in Fremantle.

35,921 bales were on offer, compared with 48,120 bales last week, of which 5.6% were passed in, comprised of 3.9% in Sydney, 6.5% in Melbourne and 7.4% in Fremantle. Pass-in rates for Merino fleece and skirtings were 6.3% and 3.1%, respectively. 3,696 bales (9.3%) from the expected offering of 39,617 bales were withdrawn prior to sale and re-offered bales made up 7.5% of the final offering. 33,916 bales were cleared to the trade.

The US exchange rate (source RBA) was 0.38¢ lower on Monday when compared with Thursday of last week. It was then down by a further 0.51¢ on Tuesday, by 1.16¢ on Wednesday and up by 1.34¢ on Thursday to close at 83.66¢, down 0.71¢ ( 0.8%) since the last sale. The exchange rate against the Euro rose by 0.23 Euro cents (+0.4%) to close at 58.80 Euro cents on Thursday night. When looked at in other currencies, the AWEX EMI moved up by 19¢ (+2.9%) in US terms and by 19¢ (+4.2%) in Euro terms when compared with the previous sale.

This week saw the strength of last week's market continued and built upon, creating a lift in prices for Australian growers as well as another lift in US and Euro currency. Gains were recorded across all wool types and micron ranges. It was a very good week with a high clearance rate. In looking for drivers in the market, it is probably a combination of both supply and demand, with concerns about supply having a major influence on the market.

Changes in the average AWEX Micron Price Guides (MPGs) for Merino wools varied from +0.7% (17.0 microns) to +4.5% (19.5 microns) with the greatest general upwards movements in the medium and broader wools. Average MPGs were up by 8¢ for 17.0 microns, by 30¢ for 17.5 microns, by 25¢ for 18.0 microns, by 21¢ for 18.5 microns, by 33¢ for 19.0 microns and by 41¢ for 19.5 microns. The 20.0 micron wool average MPG was up by 32¢ clean, 21.0 microns by 36¢, 22.0 microns by 32¢, 23.0 microns by 31¢, and 24.0 microns by 33¢.

Merino skirtings were in very keen demand on both days, but specially on Thursday when the pass-in rate was only 2.5%. Prices for crossbred types recovered well from last week, with rises of 4.0 to 4.7% for individual micron ranges. Likewise, it was a good week for oddments with the average AWEX Merino Cardings MPG lifting by 14¢ (2/8%). Buyers for China were dominant followed by those buying for India with a smaller presence from Europe than was the case last week.

Sales will be held in Sydney, Melbourne and Fremantle next week, when 35,467 bales are currently rostered for sale. Present estimates for the following two sales are 41,850 and 44,820 bales, respectively; an increase of 3.8% over the three sale period when compared with last year.

The New Zealand Merino Company is rostered to offer 1,350 bales in Week 9. Sales are in recess until next week in South Africa.

Australian Wool Industries Secretariat Inc

Must ReadView All

Textiles | On 21st Feb 2017

Net profit at Indorama Ventures zooms 145% in 2016

Net profit at Thailand headquartered and Aloke Lohia led Indorama...

Information Technology | On 21st Feb 2017

ThreadSol launches IntelloBuy & IntelloCut in Vietnam

ThreadSol, the pioneer of enterprise material management for sewn...

Textiles | On 21st Feb 2017

GST to reduce documentation for logistics firms: CBRE

The Goods and Services Tax (GST) is likely to result in a reduction...

Interviews View All

Angelina Francesca Cheang
MY ANJE

'Consumers in the age-group 21 to 38 are driving the activewear trend'

Sunil Rathore
Lacoste India

‘New vendor is welcome if he offers cost, quality and timely delivery’

Mukesh Agarwal & Rajesh Agarwal
Madhuram Fincap Pvt Ltd

Increasing prices and lack of demand main issues facing industry

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Paolo Ocleppo
Sandvik Hyperion

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

Judy Frater
Somaiya Kala Vidya

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

Mike Hoffman
Gildan Activewear SRL

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

Sonam & Paras Modi
SVA

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

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