Home / Knowledge / News / Textiles / Cape Wools' Merino indicator sheds
Cape Wools' Merino indicator sheds
Nov '10
Wool prices softened for a second consecutive week as the market receded from its recent high levels and Cape Wools' Merino indicator shed 3% compared with last week to close a t R65.28/kg (greasy).

Although the overall indicator has given up some of its recent gai ns, it still is 13% up on the opening level.

Buyers say a downward correction was expected following the sharp increase in prices, which saw the indicator gaining 18% in the six weeks from October to the second week in November.

A marginal weakening of the rand was also insufficient to stem thi s downward correction. The rand, at R7.05, was 0.7% weaker against the US dollar, but was 0.2% stronger against the euro at R 9.44 compared with last week's exchange rates.

The offering comprised 8 542 bales of which 94% was sold. Major bu yers were Modiano SA (3 199 bales), Standard Wool SA (1 956 bales) and Stucken (1 137 bales).

Average prices for good top -making (MF5), sound, long fleeces (less than 1% seed content) were as follows: 19 microns gained 1.4% to R87.29/kg; 19.5 microns dropped 2.7% to close at R76.84/kg ; 20 microns were 3.2% cheaper at R68.98/kg; 20.5 microns shed 3.6% to close at R66.57/kg; 21 microns were down by 2.2% to R 65.88/kg; 21.5 microns were 2.8% cheaper at R64.26/kg and 22 microns dropped 3.8% to R62.49/kg.

Approximately 11 500 bales will come under the hammer at next week's sale. The final sale before the Christmas recess has been scheduled for 8 December.

Cape Wools SA

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...

Information Technology | On 25th Apr 2017

Self-repairing fabrics to be the future of fashion

It is the era of smart. Intelligent materials like self-repairing...

Textiles | On 25th Apr 2017

Indonesia revitalising textile sector

With exports of textile and textile products rising in Indonesia, the ...

Interviews View All

Akash Khetan
Narayan Tex Fab

I find it hard to find professionals in Surat

Vidhyaa Shankar. S
A Ganapathi Chettiar

'The usage of knits is getting into the boundaries of woven fabrics'

Prabu Mohanram
Balavigna Weaving Mills Pvt Ltd

The biggest challenge that the weaving industry faces is high price

Marcel Alberts

Coating at a fibre level is a practice not usually seen in the...

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Paolo Ocleppo
Sandvik Hyperion

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

Pranav Mishra

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

Judy Frater
Somaiya Kala Vidya

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

Sonam & Paras Modi

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

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

April 2017

April 2017

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


Browse Our Archives


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