Home / Knowledge / News / Textiles / Wool market up; mixed week for Oddments
Wool market up; mixed week for Oddments
11
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956 bales (2.3%) from the expected offering of 41,783 bales were withdrawn prior to sale and re-offered bales made up 10.0% of the final offering. 38,755 bales were cleared to the trade.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

Courtesy: Christian Dior

Fashion | On 25th Apr 2017

LVMH to acquire Christian Dior Couture for €6.5bn

LVMH and Christian Dior, which holds directly and indirectly 41 per...

Apparel/Garments | On 25th Apr 2017

Walmart's Project Gigaton to help reduce emissions

Walmart has launched a sustainability platform called Project Gigaton ...

Courtesy: Arvind

Fashion | On 25th Apr 2017

The Arvind Store launches ready-to-wear brand for men

The Arvind Store has announced the launch of its own ready-to-wear...

Interviews View All

Binoy Ravjani
Hero's Fashion

‘One of the recent trends in hand block printing is the indigo process,...

Amardeep Singh
Orient Craft

'In export markets, the trend in terms of embroidery, is towards matte...

Sanjay Desai & Ashish Mulani
True Colors

Digital textile printing will be the technology of the future

Steve Cole
Xerium Technologies

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

Kevin Nelson
TissueGen

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

Mohammad Hassan
Biax Fiberfilm

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

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

Madhu Jain
Madhu Jain

She grew up in the walled city of Old Delhi, completed her studies, and...

Pranav Mishra
Huemn

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


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH
April 2017

April 2017

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

SUBSCRIBE


Browse Our Archives

GO


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