Home / Knowledge / News / Textiles / Wool prices rise first time in six weeks

Wool prices rise first time in six weeks

13
Nov '08
The sharp decline in the value of the rand and keen competition gave this week's sale a welcome boost and Cape Wools' Merino indicator gained 6.5% compared with last week to close at R45,41/kg (clean).

This was the first price increase in six weeks and follows a particularly tough October, during which the indicator fell by almost 19%. The Australian market also strengthened at this week's sales.

The sale was marked by strong competition from grease-wool exporters and local processors alike for the 8 230 bales on offer.

Major buyers were Standard Wool SA (1883 bales); Segard Masurel SA (1332 bales); Lempriere (AUS) (1285 bales); Chargeurs Wool (1 269 bales); Modiano (1165 bales), and Stucken (1061 bales). A high sales percentage of 98% was achieved.

The rand was under pressure as risk aversion crept back into markets and traded sharply down against major currencies. At R10,27 it was down 6,7% against the US dollar compared with last week's exchange rate, and at R12,90 it was 4,2% weaker against the euro.

The price of all long Merino types were up. Medium wools, however, particularly 21 microns and 22 microns, gained the most and rose nearly 10% and 7% respectively.

Average price movements for good quality long (65 - 95mm) Merino fleeces (spinners' and good topmakers' styles) were as follows: 19 microns gained 2,4% to R59,84/kg; 20 micron rose 4,4% at R49,98/kg; 21 microns were 9,7% dearer at R47,39/kg and 22 microns were up 7,4% at R45,45/kg. There were no quotes for 23 microns to 25 microns.

Approximately 10000 bales will come under the hammer at next week's sale.

Cape Wools'


Must ReadView All

Pic: Shutterstock

Textiles | On 19th Oct 2020

Zimbabwe to release additional $1.5 bn for cotton farmers

Zimbabwe will release an additional $1.5 billion to settle...

Pic: Dorothy Perkins

Apparel/Garments | On 19th Oct 2020

Dorothy Perkins, Burton Menswear, First Insight partner

Dorothy Perkins and Burton Menswear, part of the Arcadia Group, and...

Pic: HanesBrands

Apparel/Garments | On 19th Oct 2020

HanesBrands to improve at least 10 million lives

HanesBrands, a socially responsible marketer of everyday basic...

Interviews View All

Saket Garg, Garg Corporation

Saket Garg
Garg Corporation

The biggest challenge is lack of skilled workforce and competition from...

Neel Sawhney, One Friday

Neel Sawhney
One Friday

‘The share of kidswear segment in the online sector is still small in...

Textile industry, Head honchos

Textile industry
Head honchos

Athleisure is the current buzzword in fashion

Jos Notermans,

Jos Notermans

SPGPrints is a global provider of integrated solutions for rotary screen...

Mehul Vithalani,

Mehul Vithalani

Gopi Knitts is one of the most celebrated manufacturers and suppliers of...

Abhishek Pachauri,

Abhishek Pachauri

Reckon Industries is into manufacturing of textile process house machines, ...

Paige Mullis, Glen Raven Inc

Paige Mullis
Glen Raven Inc

Paige Mullis discusses the expansion plans of Glen Raven Inc in India, and ...

Karl Zelik, Vanderbilt University

Karl Zelik
Vanderbilt University

A team of engineers at the Vanderbilt University has designed a smart...

Mr Hartmann Huth, Trevira GmbH

Mr Hartmann Huth
Trevira GmbH

Trevira GmbH is an innovative European manufacturer of high-value branded...

Rupa Sood and Sharan Apparao, Nayaab

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

Sweta Agarwal, A Humming Way

Sweta Agarwal
A Humming Way

A Humming Way (AHW) is inspired by the old-world regalia of Rajasthan...

Seema Agrawal, Artisan Saga

Seema Agrawal
Artisan Saga

Artisan Saga, founded by Kaushik Rajani and Seema Agrawal, is an online...

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


October 2020

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


Advanced Search