Home / Knowledge / News / Textiles / Prices moves up for fine wools in the Launceston sale
Prices moves up for fine wools in the Launceston sale
21
Feb '11
The AWEX Regional Indicators finished 1.0% higher, on average, at sales in Sydney, Melbourne (including the Launceston sale by separation) and Fremantle this week when the US exchange rate fell by 0.4%.

46,622 bales were on offer, compared with 44,323 bales last week. 6.0% were passed in, comprised of 6.8% in Sydney, 4.6% in the Melbourne / Launceston sale and 8.8% in Fremantle. Pass-in rates for Merino fleece and skirtings were 5.6% and 7.2%, respectively.

43,808 bales were cleared to the trade.

The US exchange rate was relatively unchanged until the fall on Wednesday. Financial commentators attributed the drop to a fall in global commodity prices. However, it recovered most of that fall on Thursday.

Prices moved up for the fine wools in the Launceston sale in Melbourne on Tuesday in response to the presence of some very well grown and prepared clips. Trade reports indicate that prices for the better wools were up by 50¢ to 100¢. However, falls occurred for wools of 19.5 microns and greater. The market generally firmed on Wednesday, when the medium and broader Merino prices recovered the previous day's losses.

A further strengthening took place on Thursday, with rises across all Merino micron ranges and wool types. The closing EMI was only 1¢ below the season peak of 1255¢.

The closing EMI is up by 223¢ (21.3%) since the start of January and by 372¢ (42.2%) since the start of the season. The increase in the EMI since the start of the season is 63.2% in US currency. Cotton prices also continue to rise and are now up by over 100% on their July prices.

Price movements for Merino skirting types generally followed those of the fleece types, and finished strongly on Thursday. Crossbred prices eased on Tuesday, but rose across all micron ranges on Wednesday and Thursday to finish well up on the previous week. Oddments also rose during the week, with the average AWEX Merino Cardings Price Guide up by 1.1%.

Buyers for China were dominant, with continued strong demand from buyers for Europe, India and Taiwan again maintaining the momentum in the market. Buyers for Italy were very strong in the Launceston fine wool sale in Melbourne on Tuesday.

Sales will be held in Sydney, Melbourne and Fremantle next week, (Week 34) when 51,168 bales are currently rostered for sale. Present estimates for the following two sales (Weeks 34 and 35) are 41,150 and 43,300 bales, respectively; an increase of 6.5% over the three sale period when compared with last year.

The New Zealand Merino Company is rostered to offer 600 bales in Week 34. Sales are in recess in South Africa this week and will resume on 23 February.

Click here for report:

Australian Wool Industries Secretariat Inc


Must ReadView All

Courtesy: Bangladesh Bank

Apparel/Garments | On 22nd May 2018

Bangladesh Bank enhances EDF loan limit to $25 million

Bangladesh Bank has enhanced the loan limit under Export Development...

Sri Lanka's textile imports up 32.5% in February 2018

Textiles | On 22nd May 2018

Sri Lanka's textile imports up 32.5% in February 2018

In what might be an indication of higher exports in the coming...

Provide power at Rs 8/kWh to textile units: APTMA

Textiles | On 22nd May 2018

Provide power at Rs 8/kWh to textile units: APTMA

All Pakistan Textile Mills Association (APTMA) has asked the...

Interviews View All

Stefan Warnaar
Peak to Plateau

People are willing to pay for quality and performance

C Kamatchisundaram
Voltas

ITME is an occasion not only to receive new leads but also to work on...

Dinaz Madhukar
DLF Emporio and DLF Promenade

‘Each event and promotion is planned out keeping in mind the business of...

Apurva Kothari

No Nasties was the first fashion brand in India to make 100 per cent...

Rajat Jaipuria

Activewear brand Soul Space promotes organic cotton farming and...

Abhishek Pachauri

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

Marcel Alberts
Eurofibers

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

Mohammad Hassan
Biax Fiberfilm

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

Lynda Kelly
Suominen Corporation

Suominen Corporation is a manufacturer of nonwovens as roll goods for...

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

Priya Somaiya
Usha Social Services

The Usha Silai label from Usha International is all set for a retail...

Sidharth Sinha
Sidharth Sinha

<b>Sidharth Sinha</b> has contributed to the successful rebirth and...

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

Leave your Comments


May 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Advanced Search