Home / Knowledge / News / Textiles / Wool prices remain strong
Wool prices remain strong
04
Oct '10
The Australian wool market finished 0.9% higher, on average, at sales in Newcastle (second sale of the season), Melbourne and Fremantle this week when the US exchange rate rose by another 1%.

40,861 bales were on offer, compared with 40,660 bales last week. 5.7% were passed in, comprised of 4.9% in Newcastle, 4.5% in Melbourne and 11.0% in Fremantle. Pass-in rates for Merino fleece and skirtings were 6.6% and 3.9%, respectively. This was the lowest overall pass-in rate for the season.

1,358 bales (3.2%) from the expected offering of 42,219 bales were withdrawn prior to sale and re-offered bales made up 8.2% of the final offering. 38,518 bales were cleared to the trade.

The US exchange rate has continued its sharp rise, breaking through 97¢ on Wednesday night before coming back to around 96.7¢ on Thursday. The closing US exchange rate rose by 7.75¢ in September. It appears to still be driven by lack of investor confidence in the United States, growth in China, together with strikes in Europe and an expectation that the Reserve Bank may lift the official cash rate on Tuesday.

It was a very strong market with very keen competition in the sale rooms and the EMI up in all currencies, despite the increase in the US exchange rate. The EMI rose by 71¢ (+9.2%) in US currency in September. The Newcastle market was led by some of the traditional buyers for Italy, with some keen competition from China.

The medium and broader Merino market was also very strong and recovered some of the lead that the fine wools have had over them this season. Globally, markets were also strong in South Africa and New Zealand.

Demand for Skirting types continued on from last week, particularly for the better types. Fine crossbreds did very well, while the average AWEX MPGs were down slightly for medium and broader types. Oddments had another good week after mixed season to date. The lift of 12¢ (2.1%) in the average AWEX Merino Cardings Price Guide was the largest week-on-week increase this season.

Buyers for China were again dominant followed by buyers for Europe (particularly in Newcastle) and India.

Sales will be held in Sydney, Melbourne and Fremantle next week, when 46,367 bales are currently rostered for sale. Present estimates for the following two sales (Weeks 15 and 16) are 42,820 and 43,730 bales, respectively; a decrease of 2.7% over the three sale period when compared with last year. The New Zealand Merino Company is rostered to offer 3,350 bales in Melbourne next week and 2,500 bales in Week 16.

In South African sales, the Cape Wools Indicator was up by 3.6% since last week in a very strong market. The Rand appreciated by 1.1% against the US Dollar and depreciated by 0.8% against the Euro. 6,759 bales were on offer.

Click here for more details

Australian Wool Industries Secretariat


Must ReadView All

EU renews GSP+ scheme for Pakistan 2 years

Apparel/Garments | On 24th Feb 2018

EU renews GSP+ scheme for Pakistan 2 years

Pakistani exporters can enjoy preferential duties on exports to the...

Surat wary of e-way bills

Textiles | On 24th Feb 2018

Surat wary of e-way bills

There is no respite for Surat’s textile manufacturers and retailers....

Retailers choose sides in Alibaba-Tencent battle in China

Apparel/Garments | On 24th Feb 2018

Retailers choose sides in Alibaba-Tencent battle in China

Two big Chinese firms— Alibaba Group Holding Ltd and Tencent Holdings ...

Interviews View All

Milind Khandwe
Hindoostan Innovation Centre

‘Modern technical textile is an indispensable tool for science and...

Siddharth Biyani
Mangalam Industries Pvt Ltd

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

Sunil Rathore
Lacoste India

‘New vendor is welcome if he offers cost, quality and timely delivery’

Sandip Bhojani, Manthan Patel

Krypthm Tradelink LLP is a Surat-based manufacturer of westernwear....

Liz Manning

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

Sugandha Bhardwaj

<div>New Delhi-based Brinjal Designs Pvt Ltd manufactures home furnishing...

Kai Poehler
Voith Paper GmbH & Co. KG

The glass mat industry is growing by five to eight per cent annually. Kai...

Kevin Nelson
TissueGen

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

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Amiben Shroff
Shrujan

From its modest beginning in the late 1960s, Shrujan has grown into a...

Vaanee Bhatia
Gritstones Clothing

<div>Delhi-based Gritstones Clothing offers quality and exemplary style...

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

February 2018

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
70.6%
No
12.7%
Skip
16.7%

Total Votes: 102

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
63.7%
No
29.4%
Skip
6.9%

Total Votes: 102

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
88.2%
No
8.8%
Skip
2.9%

Total Votes: 102

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
83.3%
No
7.8%
Skip
8.8%

Total Votes: 102


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