Home / Knowledge / News / Textiles / Pass-in rates lift sharply
Pass-in rates lift sharply
Jan '11
The AWEX Regional Indicators finished a further 2.1% higher, on average, at sales in Sydney, Melbourne and Fremantle this week despite a sharp correction on Thursday. The US exchange rate rose by 0.2%.

59,624 bales were on offer, compared with 49,224 bales last week. 10.7% were passed in, comprised of 6.6% in Sydney, 5.9% in Melbourne and 24.4% in Fremantle. Pass-in rates for Merino fleece and skirtings were 16.2% and 3.5%.

Pass-in rates lifted sharply from 1.1% on Tuesday and 2.2% on Wednesday to 20.9% on Thursday. Most of this increase was due to a 43.8% pass-in rate in Fremantle. Much of the wool was passed-in at very good prices, as is often the case in markets like the current one.

The US exchange rate lifted above 100¢ again on Wednesday, which financial commentators attributed to an increasing confidence in the global economy. However, it fell back to the upper 99¢ range on Thursday.

The market opened in the same manner to last week, when the Southern Region Indicator rose by 70¢ on Tuesday and the EMI was up by 90¢ on Wednesday to record levels. Rises occurred across all micron ranges and Merino wool types.

The greatest gains were once again at the fine end and the EMI moved to its highest level since the boom years of the late 1980's. The market eased its rapid rush in South Africa on Wednesday and then in Australia on Thursday when the EMI fell by 51¢. The trade reports that competition remained strong although the market had fallen.

Logic and history indicate that the market could not continue its rate of rise without some check. Nevertheless, Thursday's easing still left the closing EMI 2¢ above the 2002/03 peak of 1189¢ (when the US exchange rate was 57.73¢). The 16.5 to 19.0, 20.0 and 24.0 MPGs are all above last week's closing levels while other Merino MPGs are down slightly.

Merino skirting types followed the fleece types up on Tuesday and Wednesday and down on Thursday. Crossbreds were in strong demand also on Tuesday and Wednesday and were less affected than Merino wools on Thursday. Oddments also experienced the early week gains followed by an easing of around half a percent on Thursday.

Buyers for China were again dominant, with continued good support from buyers for Europe (particularly on the first two days) and India.

Sales will be held in Sydney, Melbourne and Fremantle next week, when 54,132 bales are currently rostered for sale. Present estimates for the following two sales (Weeks 31 and 32) are 41,500 and 46,600 bales, respectively; a decrease of 6.1% over the three sale period when compared with last year.

In South African sales, the Cape Wools Indicator was up by 8.5% since last week against a 1.0% depreciation of the Rand against the US Dollar and a 4.5% depreciation against the Euro. 13,614 bales were on offer.

Click here to view the tables

Australian Wool Industries Secretariat

Must ReadView All

Textiles | On 27th Jun 2017

Govt defers tax deduction at source provision under GST

E-commerce players in India will not be required to deduct tax on...

Apparel/Garments | On 27th Jun 2017

Future Group aims Rs 12,000 crore in fashion business

Future Group, which runs retail stores across India under various...

Textiles | On 27th Jun 2017

AEPC & NSDL to help exporters with GST compliances

Apparel Export Promotion Council (AEPC) and National Securities...

Interviews View All

Md Hanifur Rahman
Aman Group

The level of understanding the job role and organisational requirements...

Hannah Lane

Encouragement from brands will motivate supply chains to become more...

Saket Garg
Garg Corporation

The biggest challenge is lack of skilled workforce and competition from...

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Eric Scholler

The Indian market has huge potential in technical textiles, and by far,...

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer <b>Prathyusha Garimella</b> is known for blending ...

Wendell Rodricks
Wendell Rodricks

"We should not compare India and the West. There are things we do that...

Madhu Jain
Madhu Jain

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

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


news category

Related Categories:
July 2017

July 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