Home / Knowledge / News / Textiles / Wool prices soar at first sale of New Year
Wool prices soar at first sale of New Year
13
Jan '11
Wool prices soared to a record high at the first sale after the Christmas recess and Cape Wools Merino indicator gained 11,8% compared with the previous sale in December to close at R70.54/kg (clean) – up 22% on the opening sale in August 2010.

This increase is in line with the Australian market where the indicator gained over 9% compared with the final sale in December. The market is currently driven by strong demand for fine and the better style wools, particularly from Europe, while supply concerns for the rest of the season also played a role, particularly in view of the floods in Australia.

Good styles and fine wools are expected to be in short supply for the rest of the season.

The rand, at R6.79 was up 1.7% against the US dollar. It appreciated by 3.3% against the euro to R8.83.

Major buyers were Standard Wool SA (4 505 bales), Modiano SA (4 451 bales), Lempriere SA (2 125 bales) and Stucken (2 000 bales).

The prices of all long wool categories were up, with 19.5 micron posting the biggest increase of 14.5%.

Average prices for good top-making (MF5), sound, long fleeces (less than 1% seed content) were as follows: 19 microns gained 8.7% to R91.80/kg; 19.5 microns rose 14.5% to close at R83.47/kg; 20 microns were 13.7% dearer at R75.71/kg; 20.5 microns rose 10.2% to R70.93/kg; 21 microns strengthened by 9.2% to R69.74/kg; 21.5 microns were up 8.5% at R68.40/kg and 22 microns were 13.9% dearer at R70.01/kg.

The next sale is on 19 January when approximately 14 000 bales will be offered.

Cape Wools SA

Must ReadView All

Apparel/Garments | On 28th May 2017

Over 45% US retailers to use AI in next 3 years: Report

Over 45 per cent retailers in the US plan to utilise artificial...

Neelesh Hundekari speaking at the event. Courtesy: Subir Ghosh

Textiles | On 27th May 2017

Fabric of Change initiative announces €250000 scaling fund

The Fabric of Change initiative of Ashoka and the C&A Foundation is...

Apparel/Garments | On 28th May 2017

Naked Brand, Bendon sign agreement to reorganise

Naked Brand Group, a fashion and lifestyle brand, and Bendon Limited, ...

Interviews View All

Sunil Kumar Sharma
Loknayak JPNSSSG Ltd

'The blend of cotton–linen yarn has high demand in the domestic and...

Amardeep Singh
Orient Craft

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

Akash Khetan
Narayan Tex Fab

I find it hard to find professionals in Surat

Mohammad Hassan
Biax Fiberfilm

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

Ashok Desai
Bombay Textile Research Association

Bombay Textile Research Association (BTRA) is a leading name in textile...

Eamonn Tighe
Nature Works LLC

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

Mike Hoffman
Gildan Activewear SRL

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

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

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:
May 2017

May 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