;
Home / Knowledge / News / Textiles / Wool market remains firm this week
Wool market remains firm this week
27
Jun '08
The Australian wool market finished 0.4% higher, on average, at sales in Sydney, Melbourne and Fremantle this week.

The AWEX EMI rose by 1¢ (+0.1%), ending the week at 874¢/kg. This reflected a fall of 2¢ (-0.2%) in the North and an increase of 5¢ (+0.6%) in the South, with their corresponding Regional Indicators finishing the week at 910¢ and 845¢ clean, respectively. The Western Indicator rose by 7¢ (+0.8%), finishing the week at 854¢.

In a two day sale in Sydney and Melbourne, the AWEX EMI fell by 1¢ on Wednesday and rose by 2¢ on Thursday. The Western Indicator rose by 7¢ on Wednesday in a one day sale in Fremantle.

40,292 bales were on offer, compared with 19,646 bales last week (when only Sydney and Melbourne sold), of which 8.2% were passed in, comprised of 5.4% in Sydney, 7.8% in Melbourne and 12.5% in Fremantle. Pass-in rates for Merino fleece and skirtings were 7.7% and 9.0%, respectively. 1,302 bales (3.1%) were withdrawn prior to sale and re-offered bales made up 15.5% of this week's offering.

The US exchange rate (source RBA) was 1.28¢ higher on Monday when compared with Wednesday of last week. It was then down by 0.16¢ on Tuesday, up by 0.40¢ on Wednesday and was unchanged on Thursday to close at 95.67¢, up 1.52¢ (+1.6%) since the last sale.

The exchange rate against the Euro rose by 0.59 Euro cents (+1.0%) to close at 61.43 Euro cents on Thursday night. When looked at in other currencies, the AWEX EMI moved up by 14¢ (+1.7%) in US terms and by 6¢ (+1.1%) in Euro terms when compared with the previous sale.

The market remained firm this week against a rising United States exchange rate. Clearance rates were very good, particularly on Thursday when the pass-in rate was 5.3%. Competition continued to be strong for the better types of wool, with prices lifting on both days of selling. AWEX reported that an 11.6 micron lot from the famous Hillcreston/Pinehill brand sold for 269,000 cents in Sydney on Thursday.

This was the finest diameter ever for a lot offered at auction.

Average AWEX Micron Price Guides (MPGs) were up by 12¢ clean for 16.5 microns, by 7¢ for 17.0 microns, by 9¢ for 17.5 microns, by 3¢ for 18.0 microns, down by 6¢ for 18.5 microns, by 7¢ for 19.0 microns and by 6¢ for 19.5 microns. The 20.0 micron wool average MPG was down by 4¢ clean, 21.0 microns was up by 2¢, 22.0 microns by 9¢, 23.0 microns by 6¢, and 24.0 microns by 3¢.

Skirtings continued to be strong demand on both days of selling while oddments eased slightly with a 5¢ fall in the average Merino Cardings MPG. All crossbred types were easier this week, with their average MPGs falling by 11 to 15¢ at the fine end and 5 to 7¢ for medium and coarse types.
Once again, the majority of the wool was bought by buyers for China, with strong support from buyers for India.

Sales will be held in Sydney, Melbourne and Fremantle next week, when 46,259 bales are currently rostered for sale. The present estimate for the following sale is 35,840 bales, resulting in an increase of 14.1% over the two sale period when compared with last year. The 14.1% increase in the offering needs to be kept in perspective as there was no sale in Week 2 last year and 72,000 bales were offered in Sale 1. South African sales are in recess until 20 August.

Australian Wool Innovation Limited


Must ReadView All

Global yarn production up in Q2/18; fabric dips slightly

Textiles | On 10th Dec 2018

Global yarn production up in Q2/18; fabric dips slightly

Global yarn production increased by 5 per cent between Q1/18 and...

Courtesy: Intertextile shanghai hometextiles

Textiles | On 10th Dec 2018

Intertextile Shanghai Home expects 200 suppliers

Around 200 suppliers from China and other countries will display...

Courtesy: Rakez

Textiles | On 10th Dec 2018

Over 50 Indian firms eyeing operations in UAE's RAKEZ

Over 50 Indian firms are interested in expanding operations in Ras Al ...

Interviews View All

Shawn Honeycutt, Bolger & O'Hearn

Shawn Honeycutt
Bolger & O'Hearn

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

Mukesh Agarwal & Rajesh Agarwal, Madhuram Fincap Pvt Ltd

Mukesh Agarwal & Rajesh Agarwal
Madhuram Fincap Pvt Ltd

Increasing prices and lack of demand main issues facing industry

Abhishek Samdaria, Reflete

Abhishek Samdaria
Reflete

GST will certainly reduce a lot of paperwork in future

Liz Manning,

Liz Manning

<div><b>Liz Manning</b>, Business Development Manager at Catexel, has...

Urmil Arya,

Urmil Arya

Sushila International, a well established textile organisation established ...

Marcus Hardelauf,

Marcus Hardelauf

Germany-based Textechno is one of the leading manufacturers of testing...

Justin Gutierrez, INDA

Justin Gutierrez
INDA

The Association of the Nonwoven Fabrics Industry (INDA) has created a new...

Mark Brill, Birmingham City University (BCU)

Mark Brill
Birmingham City University (BCU)

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

Eric Scholler, Groz-Beckert

Eric Scholler
Groz-Beckert

The Indian market has huge potential in technical textiles, and by far,...

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...

Mike Hoffman, Gildan Activewear SRL

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

Sonam & Paras Modi, SVA

Sonam & Paras Modi
SVA

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

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


December 2018

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

news category


Related Categories:

Advanced Search