Home / Knowledge / News / Textiles / Wool market softens

Wool market softens

28
Jan '10
The wool market was softer at this week's sale following the steep price increases over the past two weeks and Cape Wools' Merino indicator dropped 4.7% to R62,05/kg (clean).

This can mainly be ascribed to a downward correction resulting from resistance against the high price levels, particularly from processors who are finding it increasingly difficult to pass the higher prices on to clients further down the pipeline. The Australian market was also softer.

The rand, at R7,56, was 1.7% down against the US dollar compared with last weeks' exchange rates, while it was 0,9% weaker against the euro at R10,62.

The offering was considerably smaller than last week and 96% of the 8 400 bales offered, changed hands.

Major buyers were Standard Wool SA (2 785 bales); Lempriere SA (1 679 bales); Stucken (1 616 bales), and Modiano SA (1 232 bales). Average prices for good topmaking (MF5), sound, long fleeces (less than 1% seed content) were as follows: 19 microns declined by 7.7% to R70,40/kg; 20 microns were down 1.6% to R67,79/kg; 21 microns were 6.1% cheaper at R62,14/kg; and 22 microns were declined by 4.7% to
R61,37/kg.

Approximately 8 000 bales will be offered at next week's sale.

Cape Wools


Must ReadView All

Pic: Shutterstock

Apparel/Garments | On 7th Apr 2020

Holding cost will affect apparel manufacturers

That brands may eventually not scrap orders is not necessarily good...

Pic: reddees / Shutterstock.com

Apparel/Garments | On 7th Apr 2020

Commendable decision by international garment buyers

At a time when the world is passing through an unprecedented crisis...

Pic: Shutterstock

Apparel/Garments | On 7th Apr 2020

Over 40 apparel factories in Bangladesh resume production

More than 40 readymade garment (RMG) factories in Bangladesh's Savar, ...

Interviews View All

Luke Otten, Wigwam Mills Inc

Luke Otten
Wigwam Mills Inc

Wigwam aims to recycle discarded yarn that doesn’t make it through the...

Marazban F Velati, Sutlej Textiles & Industries limited

Marazban F Velati
Sutlej Textiles & Industries limited

No training can be effective till the candidate believes in it.

Top executives, Textile industry

Top executives
Textile industry

Union budget 2018-19 will have positive impact on apparel industry

Boban Charly,

Boban Charly

Bierrebi designs and manufactures automatic machines that cut fabric into...

Harsh Shah,

Harsh Shah

Established in 1956 with a small beginning, Embee today manufactures a...

C Dhandayuthapani,

C Dhandayuthapani

MAG Solvics Private Limited was established in 1991 to design and develop...

Mark Paterson, Technical Absorbents Ltd

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Madison Maxey, Loomia

Madison Maxey
Loomia

Loomia designs and manufactures soft circuit systems that can be produced...

Eric Scholler, Groz-Beckert

Eric Scholler
Groz-Beckert

The Indian market has huge potential in technical textiles, and by far,...

Seema Agrawal, Artisan Saga

Seema Agrawal
Artisan Saga

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

Aneeth Arora, Péro

Aneeth Arora
Péro

The Woolmark Company has partnered with handmade fashion label Péro and...

Sonam & Paras Modi, SVA

Sonam & Paras Modi
SVA

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

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


April 2020

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


Advanced Search