Home / Knowledge / News / Textiles / Wool market finishes 1.9% higher
Wool market finishes 1.9% higher
14
Jun '10
The Australian wool market finished 1.9% higher, on average, at sales in Sydney and Melbourne this week when the US exchange rate fell by 1.3%.

26,680 bales were on offer, compared with 34,299 bales last week (when all three regions sold). 4.2% were passed in, comprised of 3.6% in Sydney and 4.5% in Melbourne. Pass-in rates for Merino fleece and skirtings were 4.3% and 3.2%, respectively.

669 bales (2.4%) from the expected offering of 27,349 bales were withdrawn prior to sale and re-offered bales made up 14.7% of the final offering. 25,567 bales were cleared to the trade.

The financial and share markets had another mixed week with further concerns about the European financial problems appearing to have the greatest influence.

It was another good market with strong demand and prices rising in Australian currency, but down by 3¢ in US. The market opened strongly on Wednesday, with the closing EMI up by 13¢, when the US exchange rate was 3.2% lower than on Thursday last week. The EMI rose by 3¢ against a 1.9% appreciation in the US exchange rate in an encouraging sign on Thursday. Prices were up for all types and micron ranges with the 19.5 micron and broader wools doing best. 23 and 24 micron wools recovered well from downturns in their average AWEX MPGs last week.

Skirting types continued to be in strong demand across all types, with rises on both days. It was a very good week for all crossbred types with rises in their average AWEX MPGs of +1.6% (26 microns), +3.9% (28 microns), +2.8% (30 microns) and +5.5% (32 microns). Oddments were again in very strong demand and once again the average AWEX Merino Cardings Price Guide had the largest week-on-week change (+5.6%).

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

Sales will be held in Sydney, Melbourne and Fremantle next week, when 32,285 bales are currently rostered for sale. Present estimates for the following two sales (Weeks 52 and 53) are 32,620 and 32,800 bales, respectively. The offerings are up by 28.7% for Weeks 51 and 52. There was no Week 53 last year. The large two week year-on-year change is due to a very small offering of 17,200 bales in Week 51 last year.

In the last South African sale for this season, the Cape Wools Indicator was up by 1.5% since the sale two weeks ago, against a 1.2% appreciation of the Rand against the US Dollar and a 3.9% appreciation against the Euro. 12,520 bales were on offer.

Click here to view the table

Australian Wool Industries Secretariat


Must ReadView All

Textiles | On 25th Sep 2017

SVP Group to build $300 mn spinning plant in Sohar

ShriVallabh Pittie Industries (SVP) Group, a diversified yarn...

Apparel/Garments | On 25th Sep 2017

Vietnam textile sector to gain if EU FTA gets ratified

Experts feel the Vietnam-European Union (EU) free trade agreement...

Courtesy: Business Wire

Textiles | On 25th Sep 2017

Invista to use ADN technology at joint project in France

Invista, a leading producer of chemical intermediates, polymers, and...

Interviews View All

Ajay Ghariwala
Luthra Group

We are ready to adopt or follow every opportunity

Manfred Mentges
Sedo Treepoint GmbH

We see a higher demand in colour management systems, as customers see big...

Kamlesh Vaghela
RK Textiles

Very few machinery manufacturers have R&D units

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Silke Brand-Kirsch
Schlegel und Partner

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

Sanjukta Dutta
Sanjukta's Studio

<b>Sanjukta Dutta</b> creates unique garments by clubbing prints of...

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

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

September 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
74.5%
No
12.8%
Skip
12.8%

Total Votes: 47

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
61.7%
No
25.5%
Skip
12.8%

Total Votes: 47

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
87.2%
No
6.4%
Skip
6.4%

Total Votes: 47

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
70.2%
No
10.6%
Skip
19.1%

Total Votes: 47


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