Home / Knowledge / News / Textiles / Prices falter at Australian wool auction market
Prices falter at Australian wool auction market
26
May '17
Following a few weeks of uncertainty and mixed sentiment, the Australian wool auction market this week finally relented to a weakening price versus demand scenario. Prices for all types and descriptions across the Merino offering faltered somewhat and falls of varying degrees occurred, the Australian Wool Innovation said in its Wool Market weekly report.

However, the crossbred and carding sectors bucked the trend and stayed relatively firm around the established basis, said the report for the week ending May 26.

The AWEX eastern market indicator (EMI) decreased by around 1.8 per cent for the week or 27ac/clean kg to close the week at 1495ac/ clean kg. The stronger AUD v USD led to a smaller fall of 12usc/ clean kg to 1123usc/clean kg when the EMI is measured in US dollars, the report for sale week 47 of the current season said.

The selling week results went largely to the pre sale expectations of buyers and exporters. A sudden lack of interest from many of the larger overseas users had buyers on the back foot and reticent to continue their buy then sell approach to trading. As sales commenced the atmosphere was rather subdued, with coverage of previously sold forward orders seemingly the dominant reason for buying. Buyers were extremely selective throughout the sale week, resulting in some lots being well below their reserve. As such, the week saw growers resisting the lower levels, and over 15 per cent of the wool on offer for the week was passed in.

The selection and type of merino wool is still being dominated by the generally heavier vegetable matter (VM) levels. The 19.5 to 22 micron descriptions held on rather well in comparison to their finer counterparts and losses were limited to a general 15 to 25ac/clean kg. All merino skirtings stepped down pricewise in line with the fleece.

In stark contrast to the merino segment of the market, crossbred types met with good competition and despite the stronger AUD, managed to stay on or about their existing price levels. Again the same with the cardings sector as prices held then strengthened as the season-long strong demand continues.

Just 30,000 bales would be on offer at next week’s auction. Volumes are diminishing but so apparently are the fresh sales required from overseas, the report said. (RKS)

Fibre2Fashion News Desk – India


Must ReadView All

Courtesy: Pexels

Apparel/Garments | On 23rd Jul 2018

Turkey aims to export apparel worth $25 bn in 5 years

Turkey aims to increase its apparel exports by 50 per cent in 2018...

Kathmandu urges Dhaka to lift ban on yarn import

Textiles | On 23rd Jul 2018

Kathmandu urges Dhaka to lift ban on yarn import

Landlocked Nepal has urged Bangladesh to withdraw its restriction on...

BPPL opens Sri Lanka's first ever polyester yarn factory

Textiles | On 23rd Jul 2018

BPPL opens Sri Lanka's first ever polyester yarn factory

Eco Spindles, a wholly-owned subsidiary of BPPL Holdings Ltd (BPPL),...

Interviews View All

Top executives
Textile industry

Defining MSMEs on the basis of turnover makes it simpler to do business

Poojaa Kumar Deepak
Zeven

Zeven's performance sports apparel is designed for the Indian body type,...

Riddhika Shah
SS Homme

'Worsted wool is the ideal fabric for menswear'

Manuele Baggini

Comec Italia Srl is a world leader in the production of printing machines. ...

Paolo Crespi

For.Tex is an Italy-based leading producer of dyes and thickeners, and is...

Sugandha Bhardwaj

<div>New Delhi-based Brinjal Designs Pvt Ltd manufactures home furnishing...

Kevin Nelson
TissueGen

Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...

Marcel Alberts
Eurofibers

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

Eric Scholler
Groz-Beckert

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

Aditi Somani
Aditi Somani

Aditi Somani specialises in luxury fusion wear with international cuts and ...

Pranav Mishra
Huemn

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

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing 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


July 2018

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

news category


Related Categories:

Advanced Search