Home / Knowledge / News / Textiles / Cape Wools' Merino indicator sheds
Cape Wools' Merino indicator sheds
25
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

Apparel/Garments | On 25th Jun 2017

Half of 7,000 new apparel online each day target women

Adobe has released its first Digital Price Index for apparels,...

Textiles | On 25th Jun 2017

First Insight, Chico's FAS enter partnership

First Insight, a technology company transforming how retailers make...

Apparel/Garments | On 25th Jun 2017

Expand changing use of social and web resources

With over 400 million impressions to date and web traffic of over two ...

Interviews View All

Mohammad Mamun Ar Rashid
UL VS Bangladesh Ltd

Productivity, creativity and innovation play a vital role in the growth of ...

Anshul Sood
Oceedee

‘Indian footwear market is nascent and largely a trend follower’

Manuj Terapanthi
Texaura

Transparent supply chain and fair trade will boost sustainable market

Marcel Alberts
Eurofibers

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

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Johan Berlin
InvestKonsult Sweden AB

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

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

Mike Hoffman
Gildan Activewear SRL

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

Robert Brunner
Devereux

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

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

news category


Related Categories:
June 2017

June 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