Home / Knowledge / News / Textiles / Wool prices drop sharply
Wool prices drop sharply
02
Dec '10
Wool prices dropped sharply at this week's sale an d Cape Wools' Merino indicator shed 6.8% to close at R60.82/kg (clean). Although the Australian market was also down, local prices dropped more sharply. The uncertainty regarding Rift Valley Fever (RVF) and the problems in obtaining health certificate s for exporting grease wool to China may have been a contributing factor.

Although the Directorate Animal Health of the Department of Agriculture, Forestry and Fisheries is in the process of declaring South Africa free of RVF according to the World Organisation for Animal Health (OIE) protocols, there is a 12-month moratorium on the issuing of health certificates for grease-wool exportation to China.

The drop in prices also coincided with the lowest clearance rate t his season. Only 88% of the 11 500 bales on offer was sold. The rand, at R7.00, was a marginal 0.3% up against the US dollar, whil e it had appreciated by 2.8% against the Euro at R9.17.

Major buyers were Standard Wool SA (3 724 bales), Modiano SA (1 80 3 bales), Stucken (1 710 bales), and Lempriere (1 689 bales). Prices for long fine wools of 19 micron and finer were relatively stable and improved by 1.4%. A fresh record price of R100/kg (greasy) was obtained for one bale MF280 of 15.8 microns offered by Stuart Dewing from the farm Highlands in the Cathcart district.

He was the winner of the 2009/10 Zegna fine -wool competition.

Average prices for good top -making (MF5), sound, long fleeces (less than 1% seed content) were as follows: 19 microns gained 1.4% to R88.53/kg; 20 microns were 7.7% cheaper at R63.69/kg; 21 microns were down by 7.2% to R61.14/kg, and 22 microns shed 7.2% to close at R58.02/kg.

Approximately 11 500 bales will be offered next week's sale, which is the final sale before the Christmas recess.

Cape Wools SA


Must ReadView All

Pakistan govt notifies 50% duty drawback on exports

Textiles | On 21st Oct 2017

Pakistan govt notifies 50% duty drawback on exports

The Pakistan government has notified the ‘Duty Drawback of Taxes...

Ghana sets up task force to clamp down on textile piracy

Textiles | On 21st Oct 2017

Ghana sets up task force to clamp down on textile piracy

Ghana’s ministry of trade and industry has set up a taskforce to...

Courtesy: Coach

Fashion | On 21st Oct 2017

US company Coach to change name to Tapestry from Oct 31

Coach Inc., a New York-based house of modern luxury accessories and...

Interviews View All

Anavila Misra
Anavila Collection

Fashion shows are also encouraging and highlighting sustainable fashion

Top executives
Textile industry

The foremost issue is bridging the skill gap

Shawn Honeycutt
Bolger & O'Hearn

‘The Indian market is interesting and rather persistent in seeking new...

Vikas Banduke

Softech Controls Private Limited (SCPL) is a part of the Cotmac Group, an...

Suresh P Bagrecha

Komal Texfab, founded in 1981, is into manufacturing of knitted fabrics,...

Abhishek Pachauri

Reckon Industries adapts latest systems for manufacturing from designing...

Giorgio Mantovani
Corman S.p.A

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

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Suresh Patel
Sidwin Fabric

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

Pranav Mishra
Huemn

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

Madhu Jain
Madhu Jain

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

Anisha Chaudhari
Threads & Shirts

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

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

October 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
77.1%
No
12.9%
Skip
10.0%

Total Votes: 70

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
61.4%
No
28.6%
Skip
10.0%

Total Votes: 70

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
85.7%
No
10.0%
Skip
4.3%

Total Votes: 70

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
75.7%
No
11.4%
Skip
12.9%

Total Votes: 70


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