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

Textiles | On 25th Sep 2017

SVP Group to build $300 mn spinning plant in Sohar

ShriVallabh Pittie Industries (SVP) Group, a diversified yarn...

Apparel/Garments | On 25th Sep 2017

Vietnam textile sector to gain if EU FTA gets ratified

Experts feel the Vietnam-European Union (EU) free trade agreement...

Courtesy: Business Wire

Textiles | On 25th Sep 2017

Invista to use ADN technology at joint project in France

Invista, a leading producer of chemical intermediates, polymers, and...

Interviews View All

Smith Vaghasia
Sanado India

Online remains the best destination for shopping

Smita Murarka
Amanté

‘There is huge demand in the Indian lingerie market for non-wired styles.’

Evelyne Cholet
UCMTF

‘France had a reputation of being big in new ideas, but poor in marketing...

Kevin Nelson
TissueGen

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

Larry L Kinn
Suominen Corporation

Larry L Kinn, Senior Vice President - Operations Americas of Suominen...

Suresh Patel
Sidwin Fabric

Sidwin Fabric is a manufacturer and exporter of polypropylene textiles and ...

Anisha Chaudhari
Threads & Shirts

Threads & Shirts is a freshly-tailored concept providing men/women a...

Madhu Jain
Madhu Jain

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

Sidharth Sinha
Sidharth Sinha

<b>Sidharth Sinha</b> has contributed to the successful rebirth 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

September 2017

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
74.5%
No
12.8%
Skip
12.8%

Total Votes: 47

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
61.7%
No
25.5%
Skip
12.8%

Total Votes: 47

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
87.2%
No
6.4%
Skip
6.4%

Total Votes: 47

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
70.2%
No
10.6%
Skip
19.1%

Total Votes: 47


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