Home / Knowledge / News / Textiles / South African wool prices soften as Euro crisis deepens

South African wool prices soften as Euro crisis deepens

24
May '12
Wool prices softened further at this week's sale, the penultimate sale of the season, as the crisis in the euro zone deepens, affecting business sentiment and the Cape Wools market indicator shed 2.5% to close at R95.69/kg (clean).

The drop came despite a softer rand against the US dollar. The rand weakened on mounting concerns about the outcome of a European Union leaders' summit on the euro-zone debt crisis. At R8,33, the rand was down 5,7% against the greenback compared with the average rate at the previous sale.

This week's offering comprised 8 271 bales of which 93% was cleared. Major buyers were Standard Wool SA (3 182 bales), Lempriere SA (1 668 bales) and Modiano SA (1 240 bales).

Quality fleece wools, however, continued to attract good prices, but average to inferior types were heavily discounted.

The average clean prices for the different categories good top-making (MF5), long fleeces were as follows: 18 microns were 5.6% down at R106,63/kg, 18.5 microns dropped 5.6% to R106.24/kg, 19 microns were 4.3% cheaper at R106.18/kg, 19.5 microns were down 5.1% to R103.10/kg, 20 microns shed 3% to close at R102,11/kg, 20.5 microns were down 3.6% at R101.05/kg, 21 microns dropped 1.2% to close at R101.62/kg, 21.5 microns were 2.5% cheaper at R100.60/kg and 22 microns shed 2.7% to close at R100.57/kg.

No sale has been scheduled for next week. The final sale of the season will take place on 6 June when approximately 12 000 bales will be offered.

Cape Wools


Must ReadView All

Pic: Shutterstock

Textiles | On 27th Feb 2020

Australia willing to consider FTA with India on RCEP lines

Australia is willing to consider a bilateral free trade agreement...

Pic: Shutterstock

Apparel/Garments | On 27th Feb 2020

Hun Sen asks PRC garment investors not to leave Cambodia

Prime Minister Hun Sen recently again told Chinese garment sector...

Pic: B.Zhou / Shutterstock.com

Retail | On 27th Feb 2020

Retail brands restrict China operations amid COVID-19

The outbreak of COVID-19 is disrupting business dynamics in China....

Interviews View All

Jurgen Gauger, Spreadshirt

Jurgen Gauger
Spreadshirt

‘Buying crowdsourced or creative designs are much more appealing to the...

Divyesh Mashruwala, Akshar Industries

Divyesh Mashruwala
Akshar Industries

Surat dominates foiling, embossing and pleating

Top executives, Indian retail players

Top executives
Indian retail players

Walmart's acquisition of Flipkart endorses the humongous opportunities in...

Aaron Spivak,

Aaron Spivak

Canada-based Hush Blankets was founded by Lior Ohayon and Aaron Spivak to...

Ian Burn,

Ian Burn

Camira's expertise goes from farm to fabric and everything in between. The ...

Eric Fessler,

Eric Fessler

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

Melissa Tate, University of New South Wales

Melissa Tate
University of New South Wales

<div><div><div><div><b>Melissa Tate</b>, a well-known scientist currently...

Kevin Nelson, TissueGen

Kevin Nelson
TissueGen

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

Razvan Popescu, Directa Plus SpA

Razvan Popescu
Directa Plus SpA

Directa Plus is one of the largest producers and suppliers worldwide of...

Vaanee Bhatia, Gritstones Clothing

Vaanee Bhatia
Gritstones Clothing

<div>Delhi-based Gritstones Clothing offers quality and exemplary style...

Niti Singhal, Twee In One

Niti Singhal
Twee In One

Best known for convertible clothing, Indian brand Twee In One by designer...

Ritu Kumar, Label Ritu Kumar

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

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


February 2020

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


Advanced Search