Home / Knowledge / News / Textiles / Wool market up; mixed week for Oddments
Wool market up; mixed week for Oddments
Oct '10
The Australian wool market finished 2.1% higher, on average, at sales in Sydney, Melbourne and Fremantle this week when the US exchange rate rose by a further 1.7% to 98.32¢ at the close on Thursday.

40,827 bales were on offer, compared with 40,861 bales last week. 5.1% were passed in, comprised of 4.6% in Sydney, 4.5% in Melbourne and 7.2% in Fremantle. Pass-in rates for Merino fleece and skirtings were 4.2% and 5.5%, respectively.

956 bales (2.3%) from the expected offering of 41,783 bales were withdrawn prior to sale and re-offered bales made up 10.0% of the final offering. 38,755 bales were cleared to the trade.

The New Zealand Merino Company also offered 3,352 bales in Melbourne on Tuesday, of which 10.5% were passed in.

The US exchange rate continued its sharp rise this week. The decision by the Reserve Bank to leave official interest rates unchanged led to a 0.81¢ fall in the closing rate on Tuesday. But, this was short-lived with rises totalling 2.46¢ over the next two days. Many experts now think parity with the US dollar is inevitable.

It was a very strong market, as reflected in the lowest pass-in rates of the season. This was particularly noticeable in the fleece wools in all centres. The EMI was again up in all currencies, including a 32¢ rise in US currency to 878¢. The increases in US over the last four sales have been 10¢, 19¢, 17¢ and 32¢. A very steep rise.

The increases occurred across all wool types and micron ranges, but were led by a 2% plus rise in the 19 to 22 micron wools.

Demand for skirting types was again very keen, with increases of up to 20 to 30¢ greasy. Crossbred types did well, with increases in all average AWEX MPGs. Oddments had a mixed week, with the average Merino Carding Price Guide the only Indicate to fall this week. This contrasts with last week's best performance for the season.

Buyers for China were again dominant followed by buyers for India and Europe. Buyers for Europe figured strongly at the New Zealand Merino sale on Tuesday.

Sales will be held in Sydney, Melbourne and Fremantle next week, when 40,715 bales are currently rostered for sale. Present estimates for the following two sales (Weeks 16 and 17) are 44,680 and 46,650 bales, respectively; a decrease of 0.7% over the three sale period when compared with last year. The New Zealand Merino Company is rostered to offer 3,000 bales in Week 16 and 1,200 bales in Week 17.

In South African sales, the Cape Wools Indicator was up by 1.2% since last week against a 1.1% appreciation of the Rand against the US Dollar and a 0.8% depreciation against the Euro. 8,005 bales were on offer.

Click here for more details

Australian Wool Industries Secretariat

Must ReadView All

Textiles | On 9th Dec 2016

‘Less demand may make it hard to achieve export target’

The $48 billion target for textiles and garment exports for 2016-17...

Textiles | On 9th Dec 2016

GST Council may decrease tax rates in future: CBEC

The goods and services tax (GST) Council might reduce the proposed...

Courtesy: Gucci/Pantone

Textiles | On 9th Dec 2016

Pantone announces greenery as colour of the year 2017

Pantone, an X-Rite company and the global authority on colour and...

Interviews View All

Rashi Menda

Every fifth sale we make on Zapyle is a repeat purchase

Victor Chao

‘In future, clothing boundary lines will become increasingly blurred.’

Neel Sawhney
One Friday

‘The share of kidswear segment in the online sector is still small in...

Kevin Nelson

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

Urs Stalder
Sanitized AG

Urs Stalder, CEO, Sanitized AG, talks about the increasing use of hygiene...

Mohammad Hassan
Biax Fiberfilm

About one in every 20 patients picks up an infection while hospitalised....

Sonam & Paras Modi

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

Prathyusha Garimella
Prathyusha Garimella

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

Pranav Mishra

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

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

December 2016

December 2016

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


Browse Our Archives


Advanced Search