Home / Knowledge / News / Textiles / Wool market climbs marginally higher
Wool market climbs marginally higher
21
Dec '09
The Australian wool market finished 0.4% higher, on average, at sales in Sydney, Melbourne and Fremantle this week when the exchange rate against the US$ fell by 1.6%.

The AWEX Eastern Market Indicator (EMI) rose by 7¢ (+0.8%), ending the week at 879¢/kg. This reflected rises of 4¢ (+0.4%) in the North and 11¢ (+1.3%) in the South, with their corresponding Regional Indicators finishing the week at 905¢ and 858¢ clean, respectively. The Western Indicator fell by 4¢ (-0.5%), finishing the week at 876¢.

In a two day sale in Sydney and Melbourne, the AWEX EMI was unchanged on Tuesday and rose by 7¢ on Wednesday. The Western Indicator fell by 4¢ on Tuesday in a one day sale in Fremantle.

44,218 bales were on offer, compared with 46,371 bales last week, of which 7.2% were passed in, comprised of 6.2% in Sydney, 4.0% in Melbourne and 15.2% in Fremantle. Pass-in rates for Merino fleece and skirtings were 8.2% and 3.3%, respectively. 2,056 bales (4.4%) from the expected offering of 46,274 bales were withdrawn prior to sale and re-offered bales made up 8.1% of the final offering. 41,049 bales were cleared to the trade.

The US exchange rate (source RBA) was 0.33¢ lower on Monday when compared with Thursday of last week. It was then up by 0.35¢ on Tuesday, down by 1.45¢ on Wednesday to close at 89.93¢, down 1.43¢ (-1.6%) since the last sale. The exchange rate against the Euro fell by 0.24 Euro cents (-0.4%) to close at 61.86 Euro cents on Wednesday night. When looked at in other currencies, the AWEX EMI moved down by 7¢ (-0.9%) in US terms and was up by 2¢ (+0.4%) in Euro terms when compared with the previous sale.

The 1.6% fall in the US exchange rate on Wednesday appears due to both a strengthening of the US currency and an expectation that official interest rates in Australia will not rise to the levels which economic analysts thought would happen in the medium term.

The market finished on a strong note with good competition in the sale rooms and strong demand across all types and across nearly all micron ranges. Competition for fleece types was keen after last week's more mixed situation. It was a pleasing finish to sales prior to the three week Christmas break.

Changes in the Average AWEX Micron Price Guides (MPGs) for Merino wools varied from -0.4% (17.5 microns) to +1.5% (22.0 microns). Average MPGs were up by 15¢ clean for 16.5 microns, by 3¢ for 17.0 microns, down by 5¢ for 17.5 microns, up by 1¢ for 18.0 microns, by 5¢ for 18.5 microns, by 3¢ for 19.0 microns and by 7¢ for 19.5 microns. The 20.0 micron wool average MPG was up by 8¢ clean, 21.0 microns by 4¢, 22.0 microns by 13¢, 23.0 microns by 9¢, and 24.0 microns by 4¢.

Demand for all Merino skirtings types was mixed on Tuesday, but strengthened on Wednesday. Crossbred types did well this week with gains in their average MPGs across all micron ranges, varying from 3¢ (+0.9%) for 32 microns to 15¢ (+2.6%) for 26 microns. Oddments were very strong on Tuesday and held onto those gains on Wednesday. The average AWEX Merino Cardings MPG rose by 13¢ (+2.2%).

Buyers for China were dominant, followed by buyers for India and Taiwan.

Sales will be in recess next week and resume in the week commencing 11 January. There are no estimates yet of the probable number of bales that will be offered for sale.

Sales are in recess in South Africa.

Australian Wool Industries Secretariat

Must ReadView All

Textiles | On 20th Jan 2017

TEA expects budget to upscale textile skill industry

The Tiruppur Exporters’ Association (TEA) has requested the Central...

Textiles | On 20th Jan 2017

Bangladesh could earn $60 billion in exports by 2021

Bangladesh is expected to earn over $60 billion in exports by the...

Courtesy: PIB

Textiles | On 20th Jan 2017

Govt to help Tangaliya weavers purchase looms: Irani

Government of India will facilitate Tangaliya weavers in purchase of...

Interviews View All

Amit Jain
Shingora Textiles Ltd

‘In terms of fabric, the fastest growing category for us is a blend of...

Smita Murarka
Amanté

‘There is huge demand in the Indian lingerie market for non-wired styles.’

DK Sharma
Velocity Apparelz

We constantly communicate with employees at all levels

Ashok Desai
Bombay Textile Research Association

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

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

Wendell Rodricks
Wendell Rodricks

"We should not compare India and the West. There are things we do that...

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
January 2017

January 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