Home / Knowledge / News / Textiles / Wool market finishes 0.4% lower
Wool market finishes 0.4% lower
Mar '10
The Australian wool market finished 0.4% lower, on average, at sales in Sydney, Melbourne and Fremantle this week when the US exchange rate rose by 1.6%.

43,257 bales were on offer, compared with 46,144 bales last week, of which 12.8% were passed in, comprised of 11.2% in Sydney, 12.2% in Melbourne and 16.4% in Fremantle. Pass-in rates for Merino fleece and skirtings were 16.1% and 6.8%, respectively.

1,418 bales (3.2%) from the expected offering of 44,675 bales were withdrawn prior to sale and re-offered bales made up 8.5% of the final offering. 37,741 bales were cleared to the trade.

The market opened on a weaker note on Wednesday, but picked up during the day when two major buyers lifted their activity. The market was up in both A$ and US$ on the day. The market eased again on Thursday, with the medium and broader wools the least affected. The fine wools in the North were coming off last week's Newcastle sale.

There were suggestions of tighter access to finance in China being a contributing factor to the softer market. It has been widely reported in the financial media in recent weeks that the Chinese Central Bank has tightened lending policy to prevent growth from occurring too rapidly.

Skirtings were in good demand on Wednesday (particularly the burry types) apart from the West. They had an easier day on Thursday in line with fleece types, except in the North where prices remained firm. A large offering of Crossbreds in the South led to a further easing among these wools that was greatest for 26 and 28 micron wools. Their average MPGs came back by around 3%. Oddments had a mixed week, with some types holding firm on Wednesday and others slipping on both days. The average AWEX Merino Cardings MPG fell by 14¢ (-2.2%), but is still up by 141¢ (+28.3%) since Sale 1.

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

Sales will be held in Sydney, Melbourne and Fremantle next week, when 37,034 bales are currently rostered for sale. Present estimates for the following two sales (Weeks 38 and 39) are 42,810 and 40,900 bales, respectively; a decrease of 10.3% over the three sale period when compared with last year.

In South African sales, the Cape Wools Indicator was down by 3.5% since last week against a 2.5% appreciation of the Rand against the US Dollar and a 1.9% appreciation against the Euro. 11,273 bales were on offer.

Click here for more details.

Australian Wool Industries Secretariat

Must ReadView All

Union textiles minister Smriti Irani addressing at the Texprocil Annual Export Awards. Courtesy: PIB

Textiles | On 22nd Oct 2016

Govt to extend special package to home textiles segment

The Central government is likely to extend the recently approved Rs...

Reebok Liquid Speed Grey. Courtesy: Business Wire

Apparel/Garments | On 22nd Oct 2016

Reebok’s Liquid Factory brings sneaker creation to US

Reebok, a pioneer in the sporting goods industry, has brought sneaker ...

Courtesy: GHCL

Textiles | On 22nd Oct 2016

GHCL to invest Rs 67.25 crore in textile division

Chemicals and textiles firm GHCL will invest Rs 67.25 crore in its...

Interviews View All

Giovanni Pizzamiglio, Paolo Crespi & Riccardo Robustelli
Epson, For.Tex & F.lli Robustelli

‘The percentage share of printing in the global textile market is pretty...

Saket Garg
Garg Corporation

The biggest challenge is lack of skilled workforce and competition from...

Siddharth Biyani
Mangalam Industries Pvt Ltd

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

Larry L Kinn
Suominen Corporation

Larry L Kinn, Senior Vice President - Operations Americas of Suominen...

Kevin Nelson

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

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Jay Ramrakhiani
Occasions Elegance Wear

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

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

Robert Brunner

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


Letter To Editor

(Max. 8000 char.)

Search Companies

October 2016

October 2016

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


Browse Our Archives


Advanced Search