Home / Knowledge / News / Textiles / Extraordinary week of selling at Australian wool auctions

Extraordinary week of selling at Australian wool auctions

Sep '19
Pic: Shutterstock
Pic: Shutterstock
In what can only be described as an extraordinary week of selling, the Australian Wool Exchange (AWEX) Eastern Market Indicator (EMI) gained a record 170ac or 12.5 per cent of value for the week ending September 13, to close at 1535ac clean/kg. The USD EMI performed even better by closing at 1056usc clean/kg which was a 13.5 per cent gain of 125usc.

"The magnitude of, initially the falls and thence the subsequent gains, are not only indicative of the volatility of current demand but also a result of the hand to mouth nature of the operations of the modern day industry. In the limited supply, any slight shift in sentiment to the positive will produce magnified movements and this week's gains were exaggerated by the market price falling way below the balance point of supply versus demand," the Australian Wool Innovation (AWI) said in its latest 'Wool Market' weekly report.

"The three weeks of previous sale results were perhaps not reflective of the actual demand scenario but more slanted to the sentiment of global rhetoric influencing confidence negatively. As the dust settled on the market fall, potential losses were examined and almost all companies involved in the trade had some serious issues to face as far as plummeting value of their stock inventory was concerned. Hopefully the gains of this week can alleviate some of that pain," the AWI report for sale week 11 of the current wool marketing season said.

The merino fleece sector was the major beneficiary of value increases, with the fine / medium (19 to 22 micron) wools most sought. That segment saw gains of 250 to 300ac for the week, whilst the 18.5 micron and finer gained 100ac to 150ac. AWEX reported that the EMI rising by 170ac was the largest ever price gain in a single week and most of that was influenced by the incredible gains of the merino fleece.

The auctions were firmly led by the local Australian exporters. However, prior to sales commencing sellers withdrew a lot of wool that was originally scheduled for sale and subsequently just over 19,000 bales were eventually offered to the trade of Australian wool. "This quantity was also offered over all three selling centres which surely must be some type of record low for volume offered at our traditional “peak of the season” time of year as far as quantity goes," the report said.

"Buyers are fully expecting a mini flood of wool pushed back into the auction scene now and it will be somewhat of a litmus test as to the state of immediate requirements dependent on market direction once the volume hits," it added.

Around 31,000 bales would be up on offer at the next week's auctions. (RKS)

Fibre2Fashion News Desk – India

Interviews View All

Shawn Honeycutt, Bolger & O'Hearn

Shawn Honeycutt
Bolger & O'Hearn

‘The Indian market is interesting and rather persistent in seeking new...

Top executives, Textile industry

Top executives
Textile industry

The new deal is better than NAFTA for the US textile industry

Mohammad Mamun Ar Rashid, UL VS Bangladesh Ltd

Mohammad Mamun Ar Rashid
UL VS Bangladesh Ltd

Productivity, creativity and innovation play a vital role in the growth of ...

Poonam Naik Desai,

Poonam Naik Desai

Peekaboo is a sustainable, high quality, luxury sleepwear brand providing...

Martina Giorgetti,

Martina Giorgetti

Italy-based Cibitex is a manufacturer of textile finishing machinery,...

Nuria Estape,

Nuria Estape

Archroma is a global colour and specialty chemicals company headquartered...

Ray Baughman, University of Texas -Dallas

Ray Baughman
University of Texas -Dallas

<div>A team of scientists and researchers have discovered twistrons,...

Mark Brill, Birmingham City University (BCU)

Mark Brill
Birmingham City University (BCU)

<div>A technological breakthrough could see people getting messages about...

Pierre Wiertz, EDANA

Pierre Wiertz

EDANA, the international association serving the nonwovens and related...

Anisha Chaudhari, Threads & Shirts

Anisha Chaudhari
Threads & Shirts

Threads &amp; Shirts is a freshly-tailored concept providing men/women a...

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...

Sanjukta Dutta, Sanjukta's Studio

Sanjukta Dutta
Sanjukta's Studio

<b>Sanjukta Dutta</b> creates unique garments by clubbing prints of...

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


Leave your Comments

September 2019

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

news category

Related Categories:

Advanced Search