Home / Knowledge / News / Textiles / Merino skirting types has a generally good week
Merino skirting types has a generally good week
14
Feb '11
The AWEX Regional Indicators finished 1.0% lower, on average, at sales in Sydney, Melbourne and Fremantle this week when the US exchange rate fell by 0.3%.

44,323 bales were on offer, compared with 43,508 bales last week. 10.0% were passed in, comprised of 7.1% in Sydney, 8.1% in Melbourne and 16.6% in Fremantle. Pass-in rates for Merino fleece and skirtings were 13.7% and 6.6%, respectively. Thursday's fall in the market saw the pass-in rate rise from 7.7% to 12.0%, with the fleece pass-in rate lifting to 17.6% and the Fremantle pass-in rate lifting to 21.9%.

39,888 bales were cleared to the trade.

The US exchange rate was more stable until Wednesday this week, and showed little reaction to the lift in the Chinese official interest rate. Financial commentators attributed Thursday's fall to a variety of factors, including a mixed reaction to the latest jobs data, which included an unchanged unemployment rate; and some disappointing economic data.

The market started on a good note with further good rises for fine wools and small rises for most other Merino micron ranges on Wednesday. The easing on Thursday affected all micron ranges, but left them all at very good levels. Some poorer quality wool and a large offering of crossbreds in the South contributed to the fall on Thursday. On a broader perspective, some of the dominant buyers of recent weeks were less active this week.

The closing EMI remains up by 212¢ (20.9%) since the start of January and by 369¢ (40.9%) since the start of the season. The increase in the EMI since the start of the season is 61.5% in US currency.

Merino skirting types had a generally good week, with rises in all centres on Wednesday and in the North and the West on Thursday, particularly at the fine end. Prices came back in the South On Thursday, with the poorer types most affected. Crossbred prices eased over the week, partly due to the large quantity on offer in the South on Thursday. Oddments were generally in strong demand on Wednesday and remained in good demand on Thursday. The average AWEX Merino Cardings Price Guide was up by 2.6% for the week.

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

Sales will be held in Sydney, Melbourne and Fremantle next week, (Week 33) when 47,952 bales are currently rostered for sale. Present estimates for the following two sales (Weeks 34 and 35) are 42,000 and 41,400 bales, respectively; a decrease of 1.8% over the three sale period when compared with last year.

The Melbourne offering of 24,748 bales includes 7,800 bales of Tasmanian wool to be offered on Tuesday. This is the traditional Launceston February fine wool sale, which is occurring as a Sale-by-Separation in Melbourne for the first time.

The New Zealand Merino Company is rostered to offer 600 bales in Week 34.

In South African sales, the Cape Wools Indicator was up by 4.1% since last week against a 1.3% depreciation of the Rand against the US Dollar and a 0.1% appreciation against the Euro. 6,973 bales were on offer.

The Cape Wools Indicator is up by 44.7% (45.9% in US currency) since the start of the season.

Click here for more details:

Australian Wool Industries Secretariat

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

Nuno Venda
ROQ

‘There has been an increase in demand for water based inks, rather than...

Anvita Mehra
Confidential Couture

‘It is going to take some time for Indian buyers to get accustomed to...

Abhishek Ganguly
Puma India

‘As a brand, Puma is always looking for new and innovative ways to inspire ...

Larry L Kinn
Suominen Corporation

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

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Urs Stalder
Sanitized AG

Urs Stalder, CEO, Sanitized AG, talks about the increasing use of hygiene...

Wendell Rodricks
Wendell Rodricks

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

Prathyusha Garimella
Prathyusha Garimella

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

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

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