Home / Knowledge / News / Textiles / Australian wool auctions see positive price movements

Australian wool auctions see positive price movements

25
Oct '19
Pic: Shutterstock
Pic: Shutterstock
Positive price movements were witnessed across the entire offering at Australian wool auctions this week. The Australian Wool Exchange (AWEX) Eastern Market Indicator (EMI) ended the week at 1545ac clean/kg which was a 28ac jump or 1.9 per cent. The USD EMI was far more effected and bounced 2.7 per cent or 28usc higher and closed at 1057usc clean/kg level.

All types and descriptions were well sought, despite the much stronger (+ 0.85%) Australian dollar (AUD) against the US Dollar (USD). Price results were all to the sellers' favour amidst a more upbeat auction scene which is now seemingly lifting out of the gloom that has existed during the first quarter of this season, the Australian Wool Innovation Limited (AWI) said in its 'Wool Market' weekly report for sale week 17 of the current marketing season.

Australian trading houses dominated the purchasing activity during the week ending October 25, but significantly the largest Chinese top makers upped their ante to participate far more strongly than they have been for the past month or so. Perhaps, this is indicative that some of the back log is clearing at the top to spinning stage where cash flows have been restricted due to delays in the uptake of wool top contracts, the AWI report said.

During the third consecutive week of relatively sedate price movements, US prices rose and whilst overseas buying did back off somewhat, there was still ample business to see the market continue to climb against potential roadblocks such as the stronger forex.

"This season has seen the general re-emergence of a very influential price protection tool for wool growers—the use of the passed in mechanism. This has helped maintain the market rates at acceptable levels, but the growing stockpile must be continuously monitored. If not openly measured and identified, this stockpile may inevitably become problematical for the industry," the report said.

In the Merino fleece sector, general gains of 20 to 40ac were recorded during the week. Above and beyond these gains were the better 19 micron and finer types which received the largest rises, which equated to 70 to 85ac above last week. All other sectors gained 15 to 25ac.

The next week's offering would have nearly 40,000 bales, which may ease purchasing pressure and buyers would become more selective.

Fibre2Fashion News Desk (RKS)


Interviews View All

Footwear industry, Head honchos

Footwear industry
Head honchos

Personalised and differentiated footwear is in high demand

Angelina Francesca Cheang, MY ANJE

Angelina Francesca Cheang
MY ANJE

'Consumers in the age-group 21 to 38 are driving the activewear trend'

Giovanni Pizzamiglio, Paolo Crespi & Riccardo Robustelli, Epson, For.Tex & F.lli Robustelli

Giovanni Pizzamiglio, Paolo Crespi & Riccardo Robustelli
Epson, For.Tex & F.lli Robustelli

‘The percentage share of printing in the global textile market is pretty...

Farheen B Rahman & Priti Jain,

Farheen B Rahman & Priti Jain

Founded by business-designer duo <b>Priti Jain and Farheen Rahman</b>,...

Maya Simova,

Maya Simova

Inter Expo and Congress Center (IEC) is a prominent exhibition centre in...

Eric Fessler,

Eric Fessler

Manufacturer of textile machinery and complete fibre-to-yarn lines, N...

Lynda Kelly, Suominen Corporation

Lynda Kelly
Suominen Corporation

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

Keith McMillen, Bebop Sensors

Keith McMillen
Bebop Sensors

Bebop Sensors' smart fabrics allows for a new level of interaction between ...

Ayyappa Nagubandi, Broadcast Wearables Pvt Ltd

Ayyappa Nagubandi
Broadcast Wearables Pvt Ltd

Hyderabad-based Broadcast Wearables has come up with the country's first...

Rajesh Pratap Singh, Rajesh Pratap Singh

Rajesh Pratap Singh
Rajesh Pratap Singh

<div>Ace fashion designer <b>Rajesh Pratap Singh</b> has used Tencel to...

Nisha Chanda, Whistling Woods International School of Fashion

Nisha Chanda
Whistling Woods International School of Fashion

<div>A lack of upgraded courses in costume designing and fashion as per...

Yash P. Kotak, Bombay Hemp Company

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

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


November 2019

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

Follow us on instagram

Follow

Follow Fibre2Fashion On


Advanced Search