Home / Knowledge / News / Textiles / Merino skirting types continues to be in good demand
Merino skirting types continues to be in good demand
07
Feb '11
The market rose sharply again this week, when the AWEX Regional Indicators finished 4.9% higher, on average, at sales in Sydney, Melbourne and Fremantle this week when the US exchange rate rose by 1.4%.

43,508 bales were on offer, compared with 53,999 bales last week. 4.0% were passed in, comprised of 3.6% in Sydney, 2.7% in Melbourne and 6.7% in Fremantle. 3.5% of fleece bales and 3.7% of skirtings bales were passed in.

41,777 bales were cleared to the trade.

The US exchange rate rose sharply on Tuesday, when the Reserve Bank held official interest rates at their current level, and again on Wednesday, which was attributed basis of some good economic data and rising commodity prices. Financial commentators were cautious about the cause of Tuesday's rise, as leaving official interest rates unchanged would not normally affect exchange rates to this extent.

It was another very strong market, with the week-on-week increase of 66¢ in the EMI matching those seen during January. Demand was strong across all wool types and micron ranges, with the greatest increases in prices again occurring at the fine end. The AWEX Closing EMI at 1255¢ is now up with the highest prices seen in the late 1980's. In US terms, the EMI moved to a new high level of 1268¢, some 320¢ above the peak in the 1980's and 573¢ above the 2002/03 peak.

The closing EMI has risen by 224¢ (21.7%) since the start of January and by 373¢ (42.3%) since the start of the season. Changes in the individual average MPGs can be seen in the following table, which now includes data since the start of January. The closing average MPGs now exceed 2000¢ for 16.5 to 18.0 microns and are above 1000¢ up to 23 microns.

Merino skirting types continued to be in good demand with price increases following the pattern for fleece wools. Demand for crossbreds was more subdued, with little change in their average AWEX MPGs, except at the fine end. Crossbred prices have also made large gains since the start of the year and are at levels that are well above those of recent years. Oddments had a mixed start to the week followed by strong demand on Thursday that led to good week-on-week price rises.

Buyers for China were again dominant, with continued strong demand from buyers for Europe, India and Taiwan that maintained the momentum in the market.

Sales will be held in Sydney, Melbourne and Fremantle next week, when 44,172 bales are currently rostered for sale. Present estimates for the following two sales (Weeks 33 and 34) are 43,000 and 42,100 bales, respectively; a decrease of 9.5% over the three sale period when compared with last year.

Immediate sale volumes will be affected by the rain and floods. It is also understood that there is little wool left in wool brokers' stores or on-farm, as growers have released wool into the current very favourable market.

The New Zealand Merino Company is rostered to offer 700 bales in Week 34.

In South African sales, the Cape Wools Indicator was up by 2.8% since last week against a 0.6% depreciation of the Rand against the US Dollar and a 1.6% depreciation against the Euro. 6,525 bales were on offer.

Click here for more details

Australian Wool Industries Secretariat


Must ReadView All

Courtesy: American Silk Mills

Textiles | On 18th Oct 2017

Sutlej Textiles adds American Silk Mills to its portfolio

Sutlej Textiles and Industries Ltd (STIL) has announced the...

Arvind Limited executive directors Punit Lalbhai (left) and Kulin Lalbhai explaining the project to Gujarat chief minister Vijay Rupani. Courtesy: Arvind Ltd

Apparel/Garments | On 18th Oct 2017

Arvind to set up mega apparel facility in Gujarat

Arvind Limited, one of India’s largest textile to retail...

Cotton stocks accumulating everywhere outside of China

Textiles | On 18th Oct 2017

Cotton stocks accumulating everywhere outside of China

Global cotton stocks outside of China are expected to rise by nearly...

Interviews View All

Abhishek Samdaria
Reflete

GST will certainly reduce a lot of paperwork in future

Top executives
Textile industry, India

Such fairs are a must for industry to showcase new innovations

Veronique Lee
Modavanti

‘Sustainable fashion is trending upwards, slowly but surely, as people...

Hardik Sanghvi

Idealin Fogging Systems has been engaged in designing and manufacturing...

C Dhandayuthapani

MAG Solvics Private Limited was established in 1991 to design and develop...

Harsh Shah

Established in 1956 with a small beginning, Embee today manufactures a...

Mohammad Hassan
Biax Fiberfilm

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

Marcel Alberts
Eurofibers

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

Johan Berlin
InvestKonsult Sweden AB

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

Pranav Mishra
Huemn

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

Robert Brunner
Devereux

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

Divvya and Nidhhi Gambhir
Walnut

<b>Divvya and Nidhhi Gambhir</b> started their career with the launch of...

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
77.3%
No
13.6%
Skip
9.1%

Total Votes: 66

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
60.6%
No
28.8%
Skip
10.6%

Total Votes: 66

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
84.8%
No
10.6%
Skip
4.5%

Total Votes: 66

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
74.2%
No
12.1%
Skip
13.6%

Total Votes: 66


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