Home / Knowledge / News / Textiles / Demand for Skirting types again good
Demand for Skirting types again good
27
Sep '10
The Australian wool market finished 0.1% lower, on average, at sales in Sydney, Melbourne and Fremantle this week when the US exchange rate rose by a further 2.4%.

40,660 bales were on offer, compared with 39,016 bales last week. 10.6% were passed in, comprised of 10.2% in Sydney, 10.5% in Melbourne and 11.5% in Fremantle. Pass-in rates for Merino fleece and skirtings were 11.6% and 10.8%, respectively.

1,598 bales (3.8%) from the expected offering of 42,258 bales were withdrawn prior to sale and re-offered bales made up 10.9% of the final offering. 36,347 bales were cleared to the trade.

The New Zealand Merino Company also offered 2,945 bales in Melbourne on Tuesday of which 4.5% were passed in.

The rise in exchange rates continued this week, as the US dollar weakened against all currencies. This appears to have been partly influenced by falling investor confidence and partly by the United States Federal Reserve's decision to leave official interest rates unchanged at 0.25%.

The market opened in a similar manner to last week, with strong demand, but with the gains in US currency masked by a 2.3% increase in the US exchange rate from last Thursday to this Wednesday. The strength continued on Thursday when another 4¢ rise in the EMI in US currency took the total gains for the week in US terms to 19¢. The only soft spot in the market was at the Ultrafine level, but this will be better tested in Newcastle next week.

Demand for Skirting types was again good, but prices generally eased in A$ terms because of the increase in the US exchange rate. Crossbred average AWEX MPGs were either unchanged or slightly down in A$, but up in US$. It was a better week for oddments, with the average AWEX Merino Cardings Price Guide up by 5¢ (0.9%).

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

Sales will be held in Newcastle, Melbourne and Fremantle next week, when 35,346 bales are currently rostered for sale. Present estimates for the following two sales (Weeks 14 and 15) are 45,711 and 42,950 bales, respectively; a decrease of 6.5% over the three sale period when compared with last year. The New Zealand Merino Company is rostered to offer 2,800 bales in Week 14.

In South African sales, the Cape Wools Indicator was up by 1.5% since last week's sale, against a 0.8% appreciation of the Rand against the US Dollar and a 2.0% depreciation against the Euro. 7,576 bales were on offer.

Click here for more details

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

Mukesh Agarwal & Rajesh Agarwal
Madhuram Fincap Pvt Ltd

Increasing prices and lack of demand main issues facing industry

Sunil Kumar Sharma
Loknayak JPNSSSG Ltd

'The blend of cotton–linen yarn has high demand in the domestic and...

Nitin Soni
Dolphin Jingwei Machines

Taxation policies need to be made simpler

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...

Iago Castro Asensio
RCfil Distribuciones S.L.

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

Robert Brunner
Devereux

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer Prathyusha Garimella is known for blending...

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

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