Home / Knowledge / News / Textiles / Australian wool prices improve 34.8% in 2017-18 season
Australian wool prices improve 34.8% in 2017-18 season
29
Jun '18
Courtesy: Pexels
Courtesy: Pexels
In a stellar 2017-18 season for Australian wool auction, the Australian Wool Exchange (AWEX) Eastern Market Indicator (EMI) improved a substantial 531ac/clean kg or 34.8 per cent. The EMI when expressed in US dollars showed a net gain of 354usc/clean kg or 30.6 per cent. The seasonal average for 2017/18 was an EMI of 1729ac/clean kg or 1337usc/clean kg.

These extraordinary gains have occurred in a season where supply was unchanged to slightly higher, but anecdotally this supply has been pumped up by growers choosing to go to 6 to 8 month shearing intervals instead of the normal 12-month pattern, the Australian Wool Innovation (AWI) said in its weekly report ‘Wool Market’ for sale week 52.

At the close of the season, the AWEX EMI was at 2056ac/clean kg or 1512usc/clean kg. The forex of the AUD versus USD had a relatively stable season after starting the year at 0.7597 and concluding today at 0.7353, albeit with some sporadic, large variations up and down providing some spark to, and some negative impacts upon, the market.

In the last week of the season that ended on June 29, 2018, subdued interest from the trade continued and a mellow AUD forex movement against the USD allowed the buyers to try and let the market drift backward.

For the third week in a row, the mills in China were generally somewhat restrained in their purchasing and remained pretty well coy in their intent. The larger indent operator remained active but the lack of any significant forward contract buying has pushed the market into a softer period for the time being. The more active players in the market were the large trading exporters who dominated the buying lists daily.

At the next week auctions, 15.5 per cent less bales would be offer compared to the same sale last year. In addition, the following week, which is the final sale prior to a three-week recess in sales, there would be 21.6 per cent less bales to be offered than the ‘week 2’ sales of July 2017.

“Next week is the first week of the new selling season and is traditionally seen as a buying opportunity for exporters to complete outstanding contracts at more advantageous buy in levels. The larger volumes usually allow for more beneficial purchasing, but with comparatively lesser bales than normal to be auctioned, the chances are likely very slim this year for that to happen,” AWI said. (RKS)

Fibre2Fashion News Desk – India


Must ReadView All

Pic: Shutterstock

Textiles | On 15th Jun 2021

Australia, UK agree on broad terms of trade deal

Prime Ministers Scott Morrison and Boris Johnson have agreed in...

Pic: Shutterstock

Textiles | On 15th Jun 2021

Germany passes law on corporate due diligence in rights, environment

The German parliament passed a law last week that warrants large and...

Pic: Azamat Imanaliev / Shutterstock.com

Apparel/Garments | On 15th Jun 2021

Prime Content| Revenue, profits of major garment firms in China rise in Jan-April

Revenue, profits, output, online retail sales and exports of major...

Interviews View All

Textile Industry, Head honchos

Textile Industry
Head honchos

Tech in fashion industry has hit acceleration button

Textile Industry, Head honchos

Textile Industry
Head honchos

Marry craft and utility

Textile Industry, Head honchos

Textile Industry
Head honchos

Wearables have very limited reach

Rajat Kapoor,

Rajat Kapoor

Seraphine is a British maternity brand providing affordable luxury fashion ...

Nina Smith,

Nina Smith

GoodWeave International, a nonprofit working to end child, forced and...

Simone Morgante,

Simone Morgante

Based out of Como, Italy, and with technological expertise of nearly 70...

Dave Rousse, INDA

Dave Rousse
INDA

INDA, a global association of the nonwoven fabrics industry, has been...

Keith McMillen, Bebop Sensors

Keith McMillen
Bebop Sensors

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

Seth Casden, Hologenix

Seth Casden
Hologenix

Hologenix is a material sciences company dedicated to developing products...

Ramya Rao & Kavea R Chavali, Kalaneca

Ramya Rao & Kavea R Chavali
Kalaneca

<div>The journey of Kalaneca (kala-Art, Neca- Nikaah) formally began in...

Archana Jaju, Label Archana Jaju

Archana Jaju
Label Archana Jaju

<b>Archana Jaju</b>’s Hyderabad-based eponymous label works with artisans...

Megha Kumari & Jigar Mali, Label Megha & Jigar

Megha Kumari & Jigar Mali
Label Megha & Jigar

New Delhi based label Megha &amp; Jigar blends India's unique handcrafts...

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


June 2021

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


Advanced Search