Home / Knowledge / News / Textiles / Wool market finishes 0.6% lower

Wool market finishes 0.6% lower

14
Sep '09
The Australian wool market finished 0.6% lower, on average, at sales in Sydney, Melbourne and Fremantle this week against an increase of 3.0% in the US exchange rate.

The AWEX EMI fell by 2¢ (-0.2%), ending the week at 813¢/kg. This reflected falls of 3¢ (-0.4%) in the North and 1¢ ( 0.1%) in the South, with their corresponding Regional Indicators finishing the week at 833¢ and 796¢ clean, respectively. The Western Indicator fell by 10¢ (-1.2%), finishing the week at 794¢.

In a two day sale of Australian wool in Sydney and Melbourne, the AWEX EMI fell by 12¢ on Wednesday and rose by 10¢ on Thursday. The Western Indicator fell by 10¢ on Wednesday in a one day sale in Fremantle.

42,433 bales were on offer, compared with 42,167 bales last week, of which 12.1% were passed in, comprised of 9.6% in Sydney, 8.7% in Melbourne and 25.0% in Fremantle. Pass-in rates for Merino fleece and skirtings were 13.9% and 11.0%, respectively. 1,330 bales (3.0%) from the expected offering of 43,763 bales were withdrawn prior to sale and re-offered bales made up 10.9% of the final offering. 37,281 bales were cleared to the trade.

The New Zealand Merino Company also offered 1,928 bales in Melbourne on Tuesday of which 28.4% were passed in. 33 bales (1.7%) were withdrawn prior to sale and 5.0% of the bales were re-offers.

The US exchange rate (source RBA) was 1.57¢ higher on Monday when compared with Thursday of last week. It was then up by a further 0.48¢ on Tuesday, by 0.35¢ on Wednesday and by 0.07¢ on Thursday to close at 86.08¢, up 2.47¢ (+3.0%) since the last sale. The exchange rate against the Euro rose by 0.46 Euro cents (+0.8%) to close at 59.03 Euro cents on Thursday night. When looked at in other currencies, the AWEX EMI moved up by 19¢ (+2.8%) in US terms and by 3¢ (+0.6%) in Euro terms when compared with the previous sale.

It was another week in which the appreciation of the US exchange rate masked the true level of demand and resulted in a 2¢ fall in the EMI in spite of a 19¢ increase in US currency. Competition was good, particularly on Thursday when a new level appears to have been set. While demand was strong, the dominance of China meant that there were smaller differences in the price paid for the better wools when compared with the average and lesser types.

Changes in the Average AWEX Micron Price Guides (MPGs) for Merino wools varied from -2.1% (16.5 microns) to +0.6% (19.0 microns) with the downward movements greatest among the ultrafine wools. Average MPGs were down by 28¢ clean for 16.5 microns, by 18¢ for 17.0 microns, by 16¢ for 17.5 microns, by 3¢ for 18.0 microns, by 6¢ for 18.5 microns, up by 6¢ for 19.0 microns and by 4¢ for 19.5 microns. The 20.0 micron wool average MPG was up by 3¢ clean, 21.0 microns by 2¢, 22.0 microns was down by 2¢, 23.0 microns by 6¢, and 24.0 microns was unchanged.

Merino skirtings eased on Wednesday in line with the falls in prices for fleece wools, but regained nearly all of those losses on Thursday. The average AWEX MPG's were down marginally for all crossbred types, apart from 28 micron wools in the South on Wednesday where the MPG was down by 22¢. On the other hand, the 25 micron MPG was up by 33¢ in Melbourne over the two days. Oddments were in very keen demand with the AWEX average Merino Cardings MPG up by 11¢ (2.0%).


Must ReadView All

Pic: Shutterstock

Textiles | On 20th Oct 2020

US, Brazil update agreement on trade, economic cooperation

The United States and Brazil yesterday signed a new protocol relating ...

Pic: Shutterstock

Textiles | On 20th Oct 2020

China building more competitive mulberry silk industry

China is striving to build a more competitive mulberry silk industry...

Pic: Shutterstock

Textiles | On 20th Oct 2020

CBN invests N120 bn to revive Nigeria's textile sector

The Central Bank of Nigeria (CBN) recently said it had invested over...

Interviews View All

Karin Ekberg, Leadership & Sustainability

Karin Ekberg
Leadership & Sustainability

Sustainable models are beneficial for brands, retailers and manufacturers

Vidhyaa Shankar. S, A Ganapathi Chettiar

Vidhyaa Shankar. S
A Ganapathi Chettiar

'The usage of knits is getting into the boundaries of woven fabrics'

Textile industry, Head honchos

Textile industry
Head honchos

GenNext is slowly but surely adapting to global trends and practices

Umang Banthia,

Umang Banthia

Established in 2005, SL Banthia Textiles manufactures coated fabrics....

Bora Akris,

Bora Akris

Realkom, headquartered in Istanbul, is a fully integrated textile company...

Ravindra Jain, Ashish Baid,

Ravindra Jain, Ashish Baid

Oswal Prints Private Limited has been manufacturing and exporting ethnic...

Robert Brookins, Alexium International

Robert Brookins
Alexium International

Alexium International is a specialty chemical development company...

Mary-Cathryn Kolb, Brrr°

Mary-Cathryn Kolb
Brrr°

Atlanta-based private start-up Brrr° was founded in 2014 to develop...

Pranesh Sridharan & Berndt Koll, Lenzing

Pranesh Sridharan & Berndt Koll
Lenzing

The Lenzing Group produces Lenzing Lyocell and Modal cellulosic fibres of...

Amiben Shroff, Shrujan

Amiben Shroff
Shrujan

From its modest beginning in the late 1960s, Shrujan has grown into a...

Prathyusha Garimella, Prathyusha Garimella

Prathyusha Garimella
Prathyusha Garimella

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

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...

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