Home / Knowledge / News / Textiles / Wool market finishes 2.7% higher
Wool market finishes 2.7% higher
26
Oct '09
The Australian wool market finished 2.7% higher, on average, at sales in Sydney, Melbourne and Fremantle this week when the US exchange rate was relatively unchanged.

The AWEX EMI rose by 25¢ (+2.9%), ending the week at 873¢/kg. This reflected rises of 19¢ (+2.2%) in the North and 31¢ (+3.8%) in the South, with their corresponding Regional Indicators finishing the week at 895¢ and 855¢ clean, respectively. The Western Indicator rose by 18¢ (+2.1%), finishing the week at 868¢.

In a three day sale in Melbourne and a two day sale in Sydney, the AWEX EMI rose by 11¢ on Tuesday, by 16¢ on Wednesday and fell by 2¢ on Thursday when the strength of the bidding for China eased slightly.

The Western Indicator rose by 27¢ on Wednesday and fell by 9¢ on Thursday in a two day sale in Fremantle.

42,105 bales were on offer, compared with 45,455 bales last week. Only 4.7% of the offering was passed in a strong market, comprised of 2.7% in Sydney, 4.2% in Melbourne and 8.6% in Fremantle. Pass-in rates for Merino fleece and skirtings were 4.9% and 3.3%, respectively. 1,616 bales (3.7%) from the expected offering of 43,721 bales were withdrawn prior to sale and re-offered bales made up 11.6% of the final offering. 40,146 bales were cleared to the trade. Much of the reoffered wool was fleece types in Melbourne on Thursday, when 20.3% of the offering was re-offered wool.

The New Zealand Merino Company also offered 2,641 bales in Melbourne on Wednesday of which 7.3% were passed in. 167 bales (5.9%) were withdrawn prior to sale and 3.0% of the bales were re-offers. AWEX reported “the market as markedly dearer than the last New Zealand Merino offering”.

The US exchange rate (source RBA) was 0.45¢ lower on Monday when compared with Thursday of last week. It was then up by 1.11¢ on Tuesday, down by 0.61¢ on Wednesday and up by 0.23¢ on Thursday to close at 92.51¢, up 0.28¢ (+0.3%) since the last sale. The exchange rate against the Euro rose by 0.03 Euro cents (0.0%) to close at 61.69 Euro cents on Thursday night. When looked at in other currencies, the AWEX EMI moved up by 26¢ (+3.3%) in US terms and by 16¢ (+3.1%) in Euro terms when compared with the previous sale.

It was a strong market this week, particularly on Tuesday and Wednesday, with increases in all currencies and in all wool types and micron ranges. There was a slight easing on Thursday as buyers for China stepped back a bit, but the EMI was still up by 1¢ in US Currency on the day.

Changes in the Average AWEX Micron Price Guides (MPGs) for Merino wools varied from +1.1% (16.5 microns) to +3.1% (20.0 microns). Average MPGs were up by 14¢ clean for 16.5 microns, by 21¢ for 17.0 microns, by 15¢ for 17.5 microns, by 21¢ for 18.0 microns, by 25¢ for 18.5 microns, by 19¢ for 19.0 microns and by 30¢ for 19.5 microns. The 20.0 micron wool average MPG was up by 29¢ clean, 21.0 microns by 27¢, 22.0 microns by 25¢, 23.0 microns by 22¢, and 24.0 microns by 18¢.


Must ReadView All

Cotton production and exports in West Africa. Courtesy: FAS/USDA

Textiles | On 23rd Oct 2018

Record cotton production to drive West Africa exports

Cotton exports from West Africa for 2018-19 are projected to surpass...

Courtesy: Prudence Earl on Unsplash

Textiles | On 23rd Oct 2018

Sri Lanka's textile exports up 4.7% in Jan-July '18

Sri Lanka’s earnings from textiles and garments exports increased by...

Courtesy: Mario Crosta

Textiles | On 23rd Oct 2018

'Global textile machinery market may grow at 14% by 2020'

Analysts have predicted that the global textile machinery market may...

Interviews View All

Md Hanifur Rahman, Aman Group

Md Hanifur Rahman
Aman Group

The level of understanding the job role and organisational requirements...

Shawn Honeycutt, Bolger & O'Hearn

Shawn Honeycutt
Bolger & O'Hearn

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

Anvita Mehra, Confidential Couture

Anvita Mehra
Confidential Couture

‘It is going to take some time for Indian buyers to get accustomed to...

Maya Simova,

Maya Simova

Inter Expo and Congress Center (IEC) is a prominent exhibition centre in...

Akshat Chaudhary,

Akshat Chaudhary

Aizome, Asia's first Fairtrade denim brand, is all set to launch next...

Pratik Agarwal,

Pratik Agarwal

Breya is a brand of Indo-Western clothes for women owned by ABP Apparels...

S Ziya Gumuser, Teknomelt

S Ziya Gumuser
Teknomelt

Turkish nonwoven manufacturer Teknomelt has been around for only seven...

Luis Quijano, Liberty University

Luis Quijano
Liberty University

Focusing on bold patterns and colour palettes, Luis Quijano, a student at...

Georg Reinhold, Trützschler  Nonwovens & Man-Made Fibers

Georg Reinhold
Trützschler Nonwovens & Man-Made Fibers

Trützschler Nonwovens & Man-Made Fibers, a part of the Trützschler Group,...

Sonam & Paras Modi, SVA

Sonam & Paras Modi
SVA

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

Priya Somaiya, Usha Social Services

Priya Somaiya
Usha Social Services

The Usha Silai label from Usha International is all set for a retail...

Sandeep and Sarah Shaikh Gonsalves, SS Homme

Sandeep and Sarah Shaikh Gonsalves
SS Homme

SS Homme celebrates the craft of traditional tailoring through the bespoke ...

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 2018

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

news category


Related Categories:

Advanced Search