Home / Knowledge / News / Textiles / Wool market finishes 0.7% lower
Wool market finishes 0.7% lower
29
Mar '10
The Australian wool market finished 0.7% lower, on average, at sales in Sydney, Melbourne and Fremantle this week when the US exchange rate fell by 1.1%.

42,883 bales were on offer, compared with 43,173 bales last week. 11.0% were passed in, comprised of 8.0% in Sydney, 9.7% in Melbourne and 15.5% in Fremantle. Pass-in rates for Merino fleece and skirtings were 13.8% and 4.3%, respectively.

1,322 bales (3.0%) from the expected offering of 44,205 bales were withdrawn prior to sale and re-offered bales made up 8.9% of the final offering. 38,153 bales were cleared to the trade.

The US Exchange rate eased slightly, while the Euro exchange rate continued to set even higher records this week when it finished at 68.38¢. This is the first time 68¢ has been reached.

Although the market was down slightly on each day (and more so in US currency), trade reports indicate there was widespread competition. The downward tread reflected a continuation of the trend seen in Fremantle last Thursday when the Western Market Indicator eased by 2¢ in contrast to the 3¢ rise in the Eastern Market Indicator. The changes this week were similar across the micron ranges with the least effects seen at 17.0, 17.5, 19.0 and 24.0 microns.

The highest price paid this week was 2,900¢ greasy for a 12.7 micron bale in Melbourne on Wednesday. A more modest price after last week's top price of 170,000¢ for a bale of 11.4 micron wool.

Demand for skirtings was very keen with prices generally moving up on both days, whereas prices for fleece types eased. Crossbred prices eased, with their average MPGs down by around 1%. Oddments eased slightly on Wednesday and recovered most of the previous day's losses on Thursday. The average Merino Cardings MPG finished down by 3¢ (-0.5%).

Buyers for China were again dominant, followed by buyers for Europe, Taiwan, and India. Buying for Europe has been lifting over recent weeks and reached a new level this week when the major buyer for the week was buying for Europe. It is understood that the European demand is mostly for knitwear.

Sales will be held in Sydney, Melbourne and Fremantle next week, when 49,089 bales are currently rostered for sale. Sales are in recess in Week 41 (the week following Easter) and will resume in Week 42 when 50,000 bales are currently rostered for sale; an increase of 6.3% over the two sale period when compared with last year.

Sales are in recess in South Africa.

Click here for more details.

Australian Wool Industries Secretariat


Must ReadView All

Pakistan govt notifies 50% duty drawback on exports

Textiles | On 21st Oct 2017

Pakistan govt notifies 50% duty drawback on exports

The Pakistan government has notified the ‘Duty Drawback of Taxes...

Ghana sets up task force to clamp down on textile piracy

Textiles | On 21st Oct 2017

Ghana sets up task force to clamp down on textile piracy

Ghana’s ministry of trade and industry has set up a taskforce to...

Courtesy: Coach

Fashion | On 21st Oct 2017

US company Coach to change name to Tapestry from Oct 31

Coach Inc., a New York-based house of modern luxury accessories and...

Interviews View All

Mukesh Agarwal & Rajesh Agarwal
Madhuram Fincap Pvt Ltd

Increasing prices and lack of demand main issues facing industry

Mandeep Nagi
Shades of India

Women value something that is unique and has a flavour of India

Sanjay Yagnik
Maa Tex Speciality

‘We suggest reducing dosage of sizing chemicals to reduce sludge...

Abhishek Pachauri

Reckon Industries adapts latest systems for manufacturing from designing...

Liz Manning

<div><b>Liz Manning</b>, Business Development Manager at Catexel, has...

Hardik Sanghvi

Idealin Fogging Systems has been engaged in designing and manufacturing...

Suresh Patel
Sidwin Fabric

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

Johan Berlin
InvestKonsult Sweden AB

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

Ashok Desai
Bombay Textile Research Association

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

Aditi Somani
Aditi Somani

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

Wendell Rodricks
Wendell Rodricks

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

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

October 2017

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
77.1%
No
12.9%
Skip
10.0%

Total Votes: 70

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
61.4%
No
28.6%
Skip
10.0%

Total Votes: 70

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
85.7%
No
10.0%
Skip
4.3%

Total Votes: 70

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
75.7%
No
11.4%
Skip
12.9%

Total Votes: 70


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