Home / Knowledge / News / Textiles / Wool market up despite strong currency

Wool market up despite strong currency

18
Mar '10
Wool prices lifted at this week's sale despite a s tronger rand and Cape Wools' Merino indicator gained 2.2% to close at R63,79/kg (clean). Factors that contributed are an increase in Australian prices, imp roved interest from Europe, supply concerns in China and the fact that this week's sale was a fairly small one.

The rand was trading at R7,28 against the US dollar, an appreciati on of 1.1% compared with last week, while it was a marginal 0.4% weaker against the euro at R10,04.

The offering comprised 6 530 bales of which 97% was sold. Major bu yers were Modiano SA (1 922 bales); Standard Wool SA (1 657 bales) and Lempriere SA (1 293 bales).

Wool receipts into brokers' stores up to mid March are up 3.2% com pared with the corresponding period the previous season, which may indicate a slight increase in production this season.

Average prices for good top -making (MF5), sound, long fleeces (less than 1% seed content) were as follows: 19 microns gained 0.6% to close at R70,25/kg; 19,5 microns were 2.6% dearer at R68,8 6/kg; 20 microns were virtually unchanged at R65,03/kg; 20,5 microns were up 1.5% at R63,76/kg; 21 microns were 2.1% dearer at R62,92/kg; 21,5 microns gained 1.7% to close at R63,51/kg, and 22 microns rose 3.2% to R64,39/ kg.

No sale has been scheduled for next week. Sales will resume on 3 M arch when approximately 9 500 bales will come under the hammer.

Cape Wools


Must ReadView All

Pic: Shutterstock

Textiles | On 30th Mar 2020

PRC economy to quickly return to potential growth: PBOC

China's economy will swiftly return to its potential growth rate,...

Pic: Shutterstock

Apparel/Garments | On 30th Mar 2020

COVID FightBack: Malaysia takes steps to tackle impact

Malaysia will grant a six-month delay on most loan payments to ease...

Pic: Shutterstock

Retail | On 30th Mar 2020

NRF hails US House of Representatives consent to CARES Act

The National Retail Federation has welcomed the quick passage by the...

Interviews View All

Software Firms, Head honchos

Software Firms
Head honchos

AI / robotics may challenge existing long value chains

Top executives, Machinery Company

Top executives
Machinery Company

We will promote latest technologies at ITMA Barcelona

Rajiv Sirohi, Shara

Rajiv Sirohi
Shara

‘Portugal is taking away a major share of the mill made sector.’

Ravi Kant Prakash,

Ravi Kant Prakash

A crucial role in the process of fabric manufacturing is played by the...

Francesco Gozio,

Francesco Gozio

Italian company Marzoli is a leading manufacturer of the complete line of...

Uhan Soebiantoro,

Uhan Soebiantoro

Luckytex is an integrated textile manufacturing company founded by...

Eamonn Tighe, Nature Works LLC

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Davide Vigano, Sensoria

Davide Vigano
Sensoria

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

Ayyappa Nagubandi, Broadcast Wearables Pvt Ltd

Ayyappa Nagubandi
Broadcast Wearables Pvt Ltd

Hyderabad-based Broadcast Wearables has come up with the country's first...

Adriano Goldschmied, AG Jeans

Adriano Goldschmied
AG Jeans

The hype around 'designer jeans' was created by him. And the new wave of...

Sweta Agarwal, A Humming Way

Sweta Agarwal
A Humming Way

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

Robert Brunner, Devereux

Robert Brunner
Devereux

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

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


March 2020

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


Advanced Search