Home / Knowledge / News / Textiles / Another spectacular week for crossbred wools
Another spectacular week for crossbred wools
Mar '11
The wool market continued its steep rise this week when the AWEX Regional Indicators finished 3.1% higher, on average, at sales in Sydney, Melbourne and Fremantle. The US exchange rate fell by 1%.

The season average of 1026¢ for the AWEX Eastern Market Indicator is now 155¢ (19.2%) above the average to the same time last season.

26,384 bales were on offer, compared with 44,733 bales last week. 3.1% were passed in, comprised of 3.0% in Sydney, 2.9% in Melbourne and 3.7% in Fremantle. Pass-in rates for Merino fleece and skirtings were 2.2% and 5.4%, respectively. 25,579 bales were cleared to the trade.

The New Zealand Merino Company also offered 689 bales in Melbourne on Tuesday of which 16.3% were passed in.

The US exchange rate eased during the week. Financial commentators attributed this to weaker consumer sentiment earlier in the week, followed by a steadying due to good employment data on Thursday.

It was another particularly strong market, especially for the 20 to 24 micron ranges. Gains for the finer wools, although smaller, were still significant and were very good coming off last week's Newcastle sale.

The market opened strongly across all wool types on Tuesday and continued in that vein on Wednesday and Thursday. The closing average AWEX EMIs range from 2599¢ at 16.5 microns to 1928¢ at 18.5 microns, 1314¢ at 20 microns and 1073¢ at 24 microns. All very good prices.

The closing EMI is up by 317¢ (30.7%) since the start of January and by 466¢ (52.8%) since the start of the season. The EMI in US currency (1355¢) is up by 75.2% since the start of the season.

Demand for skirtings was very strong with sharp price rises across most types other than those carrying faulty jowls and cotted or coloured wool in the South. Oddments also did well with a 5% increase in the average AWEX Merino Cardings Price Guide, taking it to 803¢.

It was another spectacular week for crossbred wools with very sharp price rises for the third week in a row, particularly from 28 microns up where the 28, 30 and 32 average MPGs have risen by 23.2%, 27.9% and 35.3%, respectively under pressure from China.

Buyers for China were dominant, with strong demand from buyers for Europe, India and Taiwan.

Sales will be held in Sydney, Melbourne and Fremantle next week, when 44,960 bales are currently rostered for sale. Present estimates for the following two sales (Weeks 38 and 39) are 43,800 and 41,500 bales, respectively; an increase of 7.4% over the three sale period when compared with last year.

Growers are continuing to offer wool that had been held on-farm, or in brokers stores, to take advantage of the current market. The low re-offer rates seen this year (0.9% this week) reflect low pass-in rates and that much of the wool previously held in brokers stores has already been brought forward for sale.

South African sales resumed this week following the cancellation of last week's sale after the identification of Foot & Mouth Disease in North Eastern part of the country. The Cape Wools Indicator was down by 4.6% since the last sale against a 3.1% appreciation of the Rand against the US Dollar and a 2.0% appreciation against the Euro. 10,520 bales were on offer. This is still below the change in the Australian market, after allowing for the appreciation of the Rand.

Click here for more details

Australian Wool Industries Secretariat

Must ReadView All

US merchandise trade with India, 2012–16; Courtesy: USITC

Textiles | On 27th Jul 2017

India becomes US’ 9th largest trading partner in 2016

In 2016, India became the United States’ 9th-largest single-country...

Textiles | On 27th Jul 2017

GST will lead to further increase of MMF prices

The Goods & Services Tax (GST) rolled out on July 1, 2017 is not...

Textiles | On 27th Jul 2017

Global yarn production improved 30% q-o-q in Q1: ITMF

In the first quarter of 2017, global yarn production rose by almost...

Interviews View All

Vasanth Kumar
Max Fashion India

‘Traditional high-street retailers are now willing to offer franchisees to ...

Evelyne Cholet

‘France had a reputation of being big in new ideas, but poor in marketing...

Textiles & allied industry

Textiles industry is always in the forefront in accepting latest technology

Eamonn Tighe
Nature Works LLC

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

Ashok Desai
Bombay Textile Research Association

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

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Mike Hoffman
Gildan Activewear SRL

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

Pranav Mishra

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

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

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


July 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

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

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

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