Home / Knowledge / News / Textiles / Wool market finishes 0.5% lower
Wool market finishes 0.5% lower
23
Nov '09
The Australian wool market finished 0.5% lower, on average, at sales in Sydney, Melbourne and Fremantle this week when the exchange rate against the US$ fell by 1.1%.

The AWEX Eastern Market Indicator (EMI) fell by 3¢ (-0.4%), ending the week at 850¢/kg. This reflected falls of 4¢ ( 0.5%) in the North and 3¢ (-0.4%) in the South, with their corresponding Regional Indicators finishing the week at 876¢ and 828¢ clean, respectively. The Western Indicator fell by 5¢ (-0.6%), finishing the week at 855¢.

In a three day sale in Melbourne and a two day sale in Sydney, the AWEX EMI fell by 4¢ on Tuesday, by 2¢ on Wednesday and rose by 3¢ on Thursday. The Western Indicator fell by 6¢ on Wednesday and rose by 1¢ on Thursday in a two day sale.

44,913 bales were on offer, compared with 46,509 bales last week, of which 11.7% were passed in, comprised of 9.6% in Sydney, 11.6% in Melbourne and 14.6% in Fremantle. Pass-in rates for Merino fleece and skirtings were 13.3% and 4.6%, respectively. 1,237 bales (2.7%) from the expected offering of 46,150 bales were withdrawn prior to sale and re-offered bales made up 9.5% of the final offering. 39,679 bales were cleared to the trade.

The New Zealand Merino Company also offered 2,523 bales in Melbourne on Wednesday of which 31.6% were passed in. 73 bales (2.8%) were withdrawn prior to sale and 11.2% of the bales were re-offers.

The US exchange rate (source RBA) was 0.11¢ higher on Monday when compared with Thursday of last week. It was then down by 0.03¢ on Tuesday, by 0.80¢ on Wednesday and by 0.31¢ on Thursday to close at 92.35¢, down 1.03¢ (-1.1%) since the last sale. The exchange rate against the Euro fell by 0.35 Euro cents (-0.6%) to close at 61.94 Euro cents on Thursday night. When looked at in other currencies, the AWEX EMI moved down by 12¢ (-1.5%) in US terms and by 5¢ (-0.9%) in Euro terms when compared with the previous sale.

A slight easing of Chinese limits combined with the 1.1% fall in the US exchange rate resulted in an easing of the market in both Australian and United States currencies on the first two days. Thursday saw a better result, with strong competition in the rooms and the EMI up in Australian currency and unchanged in US. Wools from 17.5 microns down were more affected than others. This is probably associated with the greater availability of these wools at next week's sale in Newcastle.

Changes in the Average AWEX Micron Price Guides (MPGs) for Merino wools varied from -2.5% (16.5 microns) to +0.4% (23.0 microns). Average MPGs were down by 32¢ clean for 16.5 microns, by 28¢ for 17.0 microns, by 23¢ for 17.5 microns, by 11¢ for 18.0 microns, by 10¢ for 18.5 microns, by 14¢ for 19.0 microns and by 10¢ for 19.5 microns. The 20.0 micron wool average MPG was down by 5¢ clean, 21.0 microns by 3¢, 22.0 microns by 2¢, 23.0 microns was up by 3¢, and 24.0 microns by 1¢.

Merino skirtings were a bit mixed, with those at the finer end and with low VM being more affected than other types. Average MPGs for crossbred wools were down from -0.3% (32 microns) to -1.8% (28 microns). Oddments were generally unchanged in the East and down slightly in the West, with the average Merino Cardings MPG down by 2¢ (-0.4%).


Must ReadView All

Courtesy: Sympatex Technologies

Textiles | On 23rd Feb 2018

Sympatex, Ricosta jointly move towards sustainability

Sympatex Technologies is moving towards sustainability with its...

Courtesy: Business wire

Information Technology | On 23rd Feb 2018

CLO Virtual Fashion launches CLO 4.0 & new website

CLO Virtual Fashion, a leading developer of cutting-edge 3D garment...

Courtesy: Delta Galil

Apparel/Garments | On 23rd Feb 2018

Delta Galil 2017 sales up 16% to $1,368.1 million

Delta Galil sales for full year 2017 increased 16 per cent to...

Interviews View All

Top executives
Textile industry

Union budget 2018-19 will have positive impact on apparel industry

Rashi Menda
Zapyle

Every fifth sale we make on Zapyle is a repeat purchase

Nitin Bhatia
Trend Arrest

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

Sandip Bhojani, Manthan Patel

Krypthm Tradelink LLP is a Surat-based manufacturer of westernwear....

Harsh Shah

Established in 1956 with a small beginning, Embee today manufactures a...

Rikesh Mistry

Jupiter Comtex Pvt Ltd, established in 1973, started its textile machinery ...

Marcel Alberts
Eurofibers

Coating at a fibre level is a practice not usually seen in the...

Suresh Patel
Sidwin Fabric

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

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Divvya and Nidhhi Gambhir
Walnut

<b>Divvya and Nidhhi Gambhir</b> started their career with the launch of...

Aditi Somani
Aditi Somani

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

Pranav Mishra
Huemn

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

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 2018

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
70.6%
No
12.7%
Skip
16.7%

Total Votes: 102

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
63.7%
No
29.4%
Skip
6.9%

Total Votes: 102

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
88.2%
No
8.8%
Skip
2.9%

Total Votes: 102

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
83.3%
No
7.8%
Skip
8.8%

Total Votes: 102


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