Home / Knowledge / News / Textiles / Australian wool market closes on high note
Australian wool market closes on high note
21
Sep '09
The Australian wool market finished 3.4% higher, on average, at sales in Sydney, Melbourne and Fremantle this week, when the US exchange rate was up by a further 1.8%. The AWEX EMI rose by 26¢ (+3.2%), ending the week at 839¢/kg. This reflected rises of 33¢ (+4.0%) in the North and 21¢(+2.6%) in the South, with their corresponding Regional Indicators finishing the week at 866¢ and 817¢ clean, respectively. The Western Indicator rose by 28¢ (+3.5%), finishing the week at 822¢. In looking at the rise in the Western Market Indicator, it needs to be seen as Wednesday to Wednesday change which includes some catch-up for the 10¢ rise in the EMI on Thursday of last week.

In a two day sale in Sydney and Melbourne, the AWEX EMI rose by 20¢ on Wednesday and by 6¢ on Thursday. The Western Indicator rose by 28¢ on Wednesday in a one day sale in Fremantle. The EMI has risen by 65¢ (8.4%) in A$ and by 82¢ 12.6%) in US$ since the resumption of sales at the beginning of August. 41,938 bales were on offer, compared with 42,433 bales last week, of which 5.0% were passed in, comprised of 1.8% in Sydney, 5.1% in Melbourne and 9.1% in Fremantle. Pass-in rates for Merino fleece and skirtings were 4.8% and 2.4%, respectively. 1,281 bales (3.0%) from the expected offering of 43,219 bales were withdrawn prior to sale and re-offered bales made up 7.4% of the final offering. 39,843 bales were cleared to the trade.

The US exchange rate (source RBA) was 0.41¢ lower on Monday when compared with Thursday of last week. It was then up by 0.54¢ on Tuesday, by 0.41¢ on Wednesday and by 1.03¢ on Thursday to close at 87.65¢, up 1.57¢ (+1.8%) since the last sale. The exchange rate against the Euro rose by 0.45 Euro cents (+0.8%) to close at 59.48 Euro cents on Thursday night. When looked at in other currencies, the AWEX EMI moved up by 35¢ (+5.0%) in US terms and by 19¢ (+4.0%) in Euro terms when compared with the previous sale.

It was a strong market, with a very good start on Wednesday, a low pass-in rate, rises across all Merino types and micron ranges and the AWEX EMI up in all currencies. Strong competition gave a much needed lift to the ultrafine end of the market in the North on Wednesday, although the movements among these wools eased on Thursday and were less pronounced in the South. Changes in the Average AWEX Micron Price Guides (MPGs) for Merino wools varied from +0.7% (16.5 microns) to +4.9% (21.0 microns) with the upward movements greatest from 19.5 to 23.0 microns. Average MPGs were up by 9¢ clean for 16.5 microns, by 25¢ for 17.0 microns, by 27¢ for 17.5 microns, by 19¢ for 18.0 microns, by 33¢ for 18.5 microns, by 34¢ for 19.0 microns and by 40¢ for 19.5 microns. The 20.0 micron wool average MPG was up by 36¢ clean, 21.0 microns by 42¢, 22.0 microns by 36¢, 23.0 microns by 38¢, and 24.0 microns by 26¢.

Merino skirtings followed the fleece market and were keenly sought after, particularly atthe fine end.Average AWEX MPG's for crossbreds were up at the fine end but marginally down (-1¢ to -6¢) for medium and coarse types. Oddments were slightly mixed, but generally finished up for the week. The AWEX average Merino Cardings MPG was up by 3¢ (+0.5%).

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

Smarth Bansal
Colorjet India Limited

We would like to venture more companies into the Indian market

Nitin Bhatia
Trend Arrest

Setting up a brand for online selling is easy, but running the brand is not

Abhimanyu Singh Rathore & Barbara Anna Kosiorek
Kannbar

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

Marten Alkhagen
Swerea IVF AB

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

Kevin Nelson
TissueGen

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

Suresh Patel
Sidwin Fabric

Sidwin Fabric is a manufacturer and exporter of polypropylene textiles and ...

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer Prathyusha Garimella is known for blending...

Igor Chapurin
Chapurin

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

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