Global Apparel Market – An Overview | Watch NOW! | Ad
Home / Knowledge / News / Textiles / Upwards movement in Merino wools MPGs
Upwards movement in Merino wools MPGs
03
Apr '09
The Australian wool market finished 2.3% higher, on average, at sales in Sydney, Melbourne and Fremantle this week.

The AWEX EMI rose by 14¢ (+1.9%), ending the week at 765¢/kg. This reflected rises of 12¢ (+1.5%) in the North and 17¢ (+2.3%) in the South, with their corresponding Regional Indicators finishing the week at 787¢ and 747¢ clean, respectively. The Western Indicator rose by 22¢ (+3.1%), finishing the week at 730¢.

In a two day sale in Sydney and Melbourne, the AWEX EMI rose by 6¢ on Wednesday and by 8¢ on Thursday. The Western Indicator rose by 19¢ on Wednesday and by 3¢ on Thursday in a two day sale in Fremantle.

47,174 bales were on offer, compared with 45,712 bales last week, of which 5.4% were passed in, comprised of 3.8% in Sydney, 5.1% in Melbourne and 7.2% in Fremantle. Pass-in rates for Merino fleece and skirtings were 5.8% and 3.1%, respectively. 2,062 bales (4.2%) were withdrawn prior to sale and re-offered bales made up 12.5% of this week's offering.

The US exchange rate (source RBA) was 1.50¢ lower on Monday when compared with Thursday of last week. It was then up by 0.40¢ on Tuesday, by 0.10¢ on Wednesday and by 1.50¢ on Thursday to close at 70.33¢, up 0.50¢ (+0.7%) since the last sale. The exchange rate against the Euro rose by 1.52 Euro cents (+3.0%) to close at 53.00 Euro cents on Thursday night. When looked at in other currencies, the AWEX EMI moved up by 14¢ (+2.7%) in US terms and by 18¢ (+4.7%) in Euro terms when compared with the previous sale.

It was the first time the US exchange rate has been above 70¢ since early January and the first time the Euro exchange rate moved above 53 Euro cents since October last year. The increase in the strength of the A$ appears due to the strong balance of payment figures for February that were announced on Thursday.

It was very good week with widespread competition, rises across all Merino and cross bred micron ranges on both days and the pass-in rate at its lowest level for the season.. It was the firth week in a row in which the AWEX EMI moved up. Once again the rises occurred despite a further appreciation in the US exchange rate. While there are indications of restocking taking place overseas, concerns about supply probably have heightened following the downward revision of the National Wool Production Forecast (see below)

Changes in the Average AWEX Micron Price Guides (MPGs) for Merino wools varied from +1.3% (17.5 and 18.0 microns) to +3.1% (18.5 microns) with the upwards movement spread across all Merino micron ranges. Average MPGs were up by 31¢ clean for 16.5 microns, by 27¢ for 17.0 microns, by 16¢ for 17.5 microns, by 15¢ for 18.0 microns, by 33¢ for 18.5 microns, by 25¢ for 19.0 microns and by 17¢ for 19.5 microns. The 20.0 micron wool average MPG was up by 18¢ clean, 21.0 microns by 19¢, 22.0 microns by 16¢, 23.0 microns by 15¢, and 24.0 microns by 10¢.

Merino skirtings were in strong demand on both days, as were crossbred types. The Average MPGs for 26, 28 and 30 microns rose by 3.3%, 5.0% and 4.9% respectively. Oddments eased on Wednesday, but recovered their losses on Thursday. The Merino cardings average MPG finished 1¢ up on Thursday night.


Must ReadView All

Courtesy: Pexels

Textiles | On 19th Sep 2018

Punitive PRC tariffs on US goods has extra 5% on textiles

Responding to Washington’s latest duty increase in a dispute with...

Courtesy: Tecnorama

Textiles | On 19th Sep 2018

'Reliability & excellent quality are Tecnorama’s USP'

The complete reliability and excellent quality of Tecnorama systems...

Courtesy:  Stanislav Kondratiev on Unsplash

Apparel/Garments | On 19th Sep 2018

AAFA questions US tariffs on $200 bn Chinese goods

The American Apparel & Footwear Association (AAFA) has questioned...

Interviews View All

Headhonchos, Indian textile value chain

Headhonchos
Indian textile value chain

Adopt innovative techniques, go for automisation rather than being...

Manuj Terapanthi, Texaura

Manuj Terapanthi
Texaura

Transparent supply chain and fair trade will boost sustainable market

Priyanka, Studio Priyanka Rajiv

Priyanka
Studio Priyanka Rajiv

‘To reinvent the age-old tradition of embroidery to suit demographics and...

Shivani Swamy,

Shivani Swamy

The Livinguard Technology is owned by Green Impact Holding AG based in...

Liz Manning,

Liz Manning

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

Suresh P Bagrecha,

Suresh P Bagrecha

Komal Texfab, founded in 1981, is into manufacturing of knitted fabrics,...

Urs Stalder, Sanitized AG

Urs Stalder
Sanitized AG

Urs Stalder, CEO, Sanitized AG, talks about the increasing use of hygiene...

Davide Vigano, Sensoria

Davide Vigano
Sensoria

Sensoria is a leading developer of smart garments and IoMe (Internet of...

Chunyi Zhi, City University of Hong Kong

Chunyi Zhi
City University of Hong Kong

<div><b>Chunyi Zhi</b>, associate professor in the Department of Materials ...

Varsha Wadhwa, VW

Varsha Wadhwa
VW

Coming from a family that ran a business of jute and linen mills since...

Prathyusha Garimella, Prathyusha Garimella

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer <b>Prathyusha Garimella</b> is known for blending ...

Vaanee Bhatia, Gritstones Clothing

Vaanee Bhatia
Gritstones Clothing

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

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


September 2018

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

news category


Related Categories:

Advanced Search