Home / Knowledge / News / Textiles / AWEX wool indicator closes 4% lower last week

AWEX wool indicator closes 4% lower last week

20
Aug '12
Australian Wool Industries Secretariat Inc (AWIS) releases wool sale report for the week ending August 17. The Australian Wool Exchange (AWEX) Regional Indicators finished 4.0% lower, on average, at sales in Sydney, Melbourne and Fremantle this week when the US exchange rate fell by 1%.

The market opened on a disappointing note on Wednesday.  Last week’s market had flattened out a bit after the first day’s fall.  But, this was not maintained this week, when the Eastern Market Indicator (EMI) fell by a further 34¢ on Wednesday despite an easing of 1.17¢ in the US Exchange Rate.  The fall on Thursday was less than on the previous day, as was the case in last week’s sale. The Eastern Market Indicator (EMI) fell by 59¢ in US currency for the week, to 995¢.

The WMI fell by a smaller amount, with a number of the individual Micron Price Guides (MPGs) that make up the WMI falling by lesser amounts since the last sale in Fremantle on the previous Wednesday than occurred in the East.

All wool types and micron ranges were affected this week, although there reports of improved demand for some non-fleece types on Thursday.  Most average Merino AWEX Micron Price Guides were down by 3.5% to 4.5%, taking the falls since the start of the season to 6.5% to 8% for 17 to 18 microns and from 11 to 12% from 19.5 to 23 microns.

The Eastern Market Indicator (EMI) is 314¢ below the same week last year, while the WMI is 285¢ below its equivalent value.

General comments from the trade indicate that China is very quiet and that wool is difficult to sell at the moment.

Not surprisingly, growers responded to the market falls with a lift in the pass-in rate to above 20%.

In other countries, sales resumed in South Africa, where the Cape Wools Indicator was down by 7.2% since the last sale in early June.  In New Zealand, the Wool Services International crossbred Indicators finished strongly to be up by 3% to 4%, continuing their better start to the season.

Among other fibres, December Futures for cotton were down by 0.4% during the week, closing at 73.30 US¢ on Friday.

40,404 bales were on offer, compared with 50,603 bales last week.  23.1% were passed in, comprised of 19.6% in Sydney, 24.1% in Melbourne and 29.5% in Fremantle.  Pass-in rates for Merino fleece and skirtings were 26.3% and 18.9%, respectively. 31,068 bales were cleared to the trade.

The year-to-date offering is 32,394 bales less (-15.9%) than at the end of the same week last year.  Forecast offerings for the next three sales indicate that this year’s offerings will start to move closer to last year’s volumes over this three week period.

The US Exchange Rate eased during the week, although it is still being maintained at its present “higher” levels by the inflow of sovereign funds from other countries.  Most analysts appear to of the view that the higher exchange rates will be maintained at least for the short to medium term.


Must ReadView All

Pic: Shutterstock

Textiles | On 16th Jan 2021

Pak FCCI signs MoU to tap North American markets

The Faisalabad Chamber of Commerce & Industry (FCCI) recently signed...

Pic: Shutterstock

Textiles | On 16th Jan 2021

PRC increases Australian wool import quota

Australia's department of foreign affairs and trade has confirmed...

Pic: Edinburgh Woollen Mill

Retail | On 16th Jan 2021

Edinburgh Woollen Mill saved in deal, 1500 jobs protected

A deal recently saved collapsed UK retail company Edinburgh Woollen...

Interviews View All

Headhonchos, Indian fashion industry

Headhonchos
Indian fashion industry

Organic the first choice of any environment-conscious person

Darshan Mehta, Infinium Polychem

Darshan Mehta
Infinium Polychem

We are spending double digit figures on R&D

Software Firms, Head honchos

Software Firms
Head honchos

AI / robotics may challenge existing long value chains

Neeraj Sharma,

Neeraj Sharma

Headquartered in Surat, Gujarat, Orange O supplies digital textile...

Marco Girola,

Marco Girola

With its commitment to innovation and deep technical expertise,...

Martina Giorgetti,

Martina Giorgetti

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

Ayyappa Nagubandi, Broadcast Wearables Pvt Ltd

Ayyappa Nagubandi
Broadcast Wearables Pvt Ltd

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

Razvan Popescu, Directa Plus SpA

Razvan Popescu
Directa Plus SpA

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

Kevin Nelson, TissueGen

Kevin Nelson
TissueGen

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

Suman Nathwani, Suman Nathwani

Suman Nathwani
Suman Nathwani

<span style="font-size: 12px;">Designer Suman Nathwani talks about her...

Sonam & Paras Modi, SVA

Sonam & Paras Modi
SVA

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

Sneha Arora, Label Sneha Arora

Sneha Arora
Label Sneha Arora

Sneha Arora, an alumnus of National Institute of Fashion Technology,...

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


January 2021

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


Advanced Search