>>
Home / Knowledge / News / Textiles / Wool market finishes 8.5% lower

Wool market finishes 8.5% lower

24
Oct '08
The Australian wool market finished 8.5% lower, on average, at sales in Sydney, Melbourne and Fremantle this week.

The AWEX EMI fell by 75¢ (-8.9%), ending the week at 764¢/kg. This reflected falls of 88¢ (-9.9%) in the North and 64¢ (-8.0%) in the South, with their corresponding Regional Indicators finishing the week at 797¢ and 736¢ clean, respectively. The Western Indicator fell by 61¢ (-7.7%), finishing the week at 729¢.

In a three day sale in Sydney and Melbourne, the AWEX EMI fell by 62¢ on Tuesday, by 6¢ on Wednesday and by 7¢ on Thursday. The Western Indicator fell by 53¢ on Wednesday and by 8¢ on Thursday in a two day sale in Fremantle.

57,149 bales were on offer, compared with 55,911 bales last week, of which 33.3% were passed in, comprised of 29.6% in Sydney, 35.5% in Melbourne and 34.6% in Fremantle. Pass-in rates for Merino fleece and skirtings were 43.2% and 26.4%, respectively. 10,239 bales (15.2%) were withdrawn prior to sale and re-offered bales made up 9.6% of this week's offering.

The New Zealand Merino Company also offered 2,810 bales in Melbourne on Wednesday of which 51.6% were passed in. 90 bales (3.2%) were withdrawn prior to sale and 0.9% of the bales were re-offers.

The US exchange rate (source RBA) was 3.23¢ higher on Monday when compared with Thursday of last week. It was then down by 0.55¢ on Tuesday, by 2.87¢ on Wednesday and up by 0.01¢ on Thursday to close at 66.63¢, down 0.18¢ (-0.3%) since the last sale. The exchange rate against the Euro rose by 2.09 Euro cents (+4.2%) to close at 52.05 Euro cents on Thursday night. When looked at in other currencies, the AWEX EMI moved down by 52¢ (-9.3%) in US terms and by 21¢ (-5.0%) in Euro terms when compared with the previous sale.

The soft demand in the current financial crisis and weak competition continued this week with falls across all micron ranges and wool types. It was not helped by the announcement last Friday that the expected offering had increased by 9,600 bales during the week.

History shows that this invariably contributes to a fall in the market, which in turn leads to a higher pass-in rate with probably no net change in the quantity of wool sold. A lose-lose situation. Other factors in play during the week included the increase of 2.7¢ in the US exchange rate between last week's close and the start of this week's selling and the weaker demand for fine wools after last week's Newcastle sale. All of these factors contributed to the large fall in the market in Australian currency on Tuesday, particularly among the superfine wools on offer in Sydney. The fall of 62¢ in the AWEX EMI was 21¢ when converted into US currency.

Falls in the AWEX Micron Price Guides (MPGs) for Merino wools varied from -7% to -11%; being down by 107¢ clean for 16.5 microns, by 132¢ for 17.0 microns, by 136¢ for 17.5 microns, by 110¢ for 18.0 microns, by 112¢ for 18.5 microns, by 98¢ for 19.0 microns and by 72¢ for19.5 microns. The 20.0 micron wool average MPG was down by 80¢ clean, 21.0 microns by 71¢, 22.0 microns by 63¢, 23.0 microns by 52¢, and 24.0 microns by 64¢.


Must ReadView All

Pic: Shutterstock

Textiles | On 20th May 2022

China reiterates call for tariffs cut after US official’s statement

After US treasury secretary Janet Yellen called for tariffs cuts on...

Pic: Shutterstock

Textiles | On 20th May 2022

World economy projected to grow by 3.1% in 2022: UN

The world economy is projected to grow by 3.1 per cent in 2022,...

Pic: Shutterstock

Textiles | On 20th May 2022

Lowering logistics costs key to Vietnam’s export competitiveness

Reducing logistics costs is crucial to raising competitiveness of...

Interviews View All

Textile Industry, Head honchos

Textile Industry
Head honchos

Switch was not 100% pandemic related

Florian Heubrandner, Lenzing AG

Florian Heubrandner
Lenzing AG

Cannot see the world breaking away from cotton & polyester

Textile Industry, Head honchos

Textile Industry
Head honchos

Global supply chain collapsed during the pandemic

Rajesh Masand,

Rajesh Masand

Established in 1963, the Clothing Manufacturers Association of India, or...

Nishant Poddar,

Nishant Poddar

Since 2015, Universal Sportsbiz Pvt. Ltd. (USPL) has been shaking up the...

Dr. Ajay Sahai,

Dr. Ajay Sahai

Set up in 1965 by Ministry of Commerce, Government of India to focus the...

Frank Heislitz, Freudenberg

Frank Heislitz
Freudenberg

Freudenberg Performance Materials is a leading global manufacturer of...

Silverio Baranzano, Fitesa

Silverio Baranzano
Fitesa

Fitesa is a leader in the nonwoven fabrics industry, specialising in...

Christopher Astley, INDA

Christopher Astley
INDA

<font face="Arial, sans-serif"><span style="font-size: 16px;">INDA,...

Anna Yang, Label - Annakiki

Anna Yang
Label - Annakiki

Anna Yang is founder of brand Annakiki that explores a surrealist fantasy. ...

Barbara Biosah, Label - Dumebi

Barbara Biosah
Label - Dumebi

Label DUMEBI is a luxury womenswear brand specialising in unconventional...

Dhruv Toshniwal, Brand - The Pant Project

Dhruv Toshniwal
Brand - The Pant Project

The Pant Project is known for its custom-made bottom wear. Its products...

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

ESTEEMED CLIENTS

DuPont de Nemours, Inc.,
Gokaldas Exports Limited
Lifestyle
Vianney Textil Hogar S.A. De C.V.
HYOSUNG CORPORATION INDIA PRIVATE LIMITED
Guess Europe Sagl,
Istanbul Fuarcilik A.S.
Dow Silicones Corporation
ITMA Services Pte Ltd
Desigual - ABASIC, S.A.
Nandan Denim Limited
Sateri (Jiujiang) Fiber Co.,Ltd
USTER
Flainox S.r.l.
Tuyap Tum Fuarcilik Yapim A.S.
Esprit Europe Services GmbH
Helly Hansen Far East Ltd
Datacolor AG Europe
Shima Seiki Mfg. Ltd.
Chico’ FAS
Grasim Industries Limited
Permoda(Koaj/Armi/Pronto/Bkul)
BTC Textiles LLC
PVH Corporation
China World International Exhibition Company Limited
Midas Clothing Limited
MAS Active / MAS Kreeda / MAS Bodyline
TEXVALLEY MARKET LIMITED
The LYCRA Company Singapore  Pte. Ltd
Sportswear Company Spa
J ;& P Coats
FULGAR SpA
Thai Acrylic Fibre Company Limited
Officina Meccanica Dora Enrico Srl
GERBER TECHNOLOGY LTD.
H;&M Hennes ;& Mauritz (Far East) Ltd
Indofil Industries Limited - Specialty & Performance Chemicals Division
Decathlon
Groz-Beckert East Asia LLP
International Sourcing Expo Australia
Brandix Lanka Limited
Palexpo SA
Seasalt Limited
Groz-Beckert KG
JES MEDIA, INC
Comasia Limited
Nihalani Events Management
COTTON COUNCIL INTERNATIONAL
Aramark Uniform ;& Career Apparel, LLC
Arvind Limited
LC Waikiki
International Textile Manufacturers Federation
Chori Company Limited
EPCH
The Top Form Brassiere Manufacturing Company Limited
Recron Polyester from Reliance Industries Limited
John Varvatos
NV Michel Van de Wiele
Restoque S.A.
UBM China (Shanghai)
Bluesign Technologies Ag
Gap International Sourcing Limited
Etam Group Strategy Hong Kong Limited
Deckers Outdoor (Guangzhou) Consultant Co., LTD.
Amazon China
Phong Phu international JSC (PPJ)
Xtema - Thomas Lebherz Textilmaschinen
Stahl Holdings B.V.,
Shanghai  Aige Exhibition Service Co., Ltd
Centric Software
Maceton Limited
BTSR International S.P.A.
SYNERGIES HONG KONG LIMITED
Colours India Inc
Karl Mayer Textilmaschinenfabrik GmbH
Newtech Textile Technology Development (Shanghai) Company Limited
Truetzschler India Private Limited
VNU Exhibitions Asia
Marzoli Machines Textile s.r.l.
Lululemon Athletica Inc
Tradewind International Servicing
Tchibo GmbH
Lacoste (Wanchai)
Haelixa AG
Datatex Consulting Srl
Inter Expo Center Ltd.
DyStar India Pvt. Ltd
CSGIA(China Screen Printing & Graphic Imaging Association)
TÜYAP IHTISAS FUARLARI A.S.
SUZHOU TUE HI-TECH NONWOVEN MACHINERY CO.,LTD
Savio Macchine Tessili S.P.A.
EUROVET ASIA LTD
Messe Frankfurt Exhibition GmbH
Meera Dyestuff Industries
Itema Weaving (India) Private Limited
FESPA (Reigate)
GIOVANNI BOZZETTO S.p.A.
Abit
IIGM Private Limited
Mesdan SPA
Eastman Chemical Company
Gloria Jeans
Calvin Klein
Lenzing Aktiengesellschaft
Alix Partners
Gatsby Africa
Mayer & Cie. GmbH & Co. KG
TESCO INTERNATIONAL SOURCING LIMITED
Landmark Group
Lottmann Communications
Target Corporation (MN)
Coats Digital Limited
Thai Trade Center
APLF Limited
Indo Tex
BIMBA ;& LOLA SL
OVS Hong Kong Sourcing Ltd.
Reiter India Private Limited
Thermore (Far East) Ltd.
Italian Trade Commission
Page Industries Limited (Bangalore)
Bluestem Global Sourcing Limited
Performance Days
Babyshop
Lectra Technologies India Pvt Ltd.
Tommy Hilfiger
The LYCRA Company Singapore  Pte. Ltd
IFF Media Ag - International Media Services
H. Stoll AG & Company KG
Asos
BRINKMANN GMBH
T.T. Limited
Aleph Srl
KIABI
Walmart
IKEA of Sweden AB
Cat Tuong Real Estate Group Joint Stock Company
G.A.S. unternehmenskommunikation gmbh
CGS Inc.
Copenhagen Fashion Summit
Sainsbury's Argos Asia Limited
Equinox Impex India
Taiwan Textile Federation (TTF)
X-Rite Asia Pacific Limited (HK)
BIANCA
Eurofins BLC Leather Technology Centre Ltd
Rieter India Private Limited
Loris Bellini S.r.l.
Zydex Industries
Recron Polyester from Reliance Industries Limited
Kornit Digital Asia Pacific Ltd
Alison Hayes Romania
Hirdaramani International Export Private Limited
Woolmark Services India Pvt. Ltd.
Infor (Hong Kong) Limited
EMBEE CORPORATION
Weitmann & Konrad GmbH & Co. KG
Applied DNA Sciences Inc
C;&A Sourcing International Ltd
Rosset ;& Cia Limited
Under Armour Global Sourcing Ltd
Zünd Systemtechnik AG
TESTEX AG, Swiss Textile Testing Institute
Splash
Benetton Group
Messe Duesseldorf
Telangana State Industrial Infrastructure Corporation Limited (TSllC Ltd)
Rayonese Textile Inc., Division de Culp Inc.
SHAHI Exports Pvt Ltd
IDH – The Sustainable Trade Initiative
Lenzing Aktiengesellschaft - India
Huntsman (Singapore) Pte Ltd
Vardhman Textile Ltd
Jindal Worldwide Limited
Color Service s.r.l.
Hela Clothing Pvt Ltd
Boardriders Asia Sourcing Limited
Aquarelle Clothing Limited
N9 World Technologies Private Limited
GHCL LIMITED
Saurer Textile Solutions Pvt. Ltd.
Lisa S.P.A.
Tory Burch Hong Kong Ltd
ZAITEX spa
Sportmaster Ltd.
Jiangsu Yingyang Nonwoven Machinery Company Limited
Varner AS Retail
K AND D ITMACH EXPOSITIONS LLP
G-Star Raw C.V.
Puma
BIRLA CENTURY A DIVISION OF CENTURY TEXTILES AND INDUSTRIES
Kern – Liebers Textile
Green Fibre
THE BOMBAY DYEING ;& MFG.CO. LTD
Pt. Peraga Nusantara Jaya Sakti
KAS Direct Sourcing
Brückner Trockentechnik GmbH & Co. KG
NITI Aayog

May 2022

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


Advanced Search