Home / Knowledge / News / Textiles / Wool market with widespread competition

Wool market with widespread competition

22
Mar '10
The Australian wool market finished 1.2% higher, on average, at sales in Sydney, Melbourne and Fremantle this week when the US exchange rate rose by 0.8%.

It was also the week that a bale of 11.4 microns speciality Ultrafine wool was sold after auction in Melbourne for 170,000¢. 11.4 microns is the finest measurement yet recorded for a bale of Australian wool. The bale is headed for Raymond in India.

43,173 bales were on offer, compared with 35,200 bales last week. 8.2% were passed in, comprised of 6.7% in Sydney, 8.1% in Melbourne and 10.2% in Fremantle. Pass-in rates for Merino fleece and skirtings were 10.6% and 5.3%, respectively.

1,236 bales (2.8%) from the expected offering of 44,409 bales were withdrawn prior to sale and re-offered bales made up 11.4% of the final offering. 39,636 bales were cleared to the trade.

Exchanges rates remained high, as the United States Reserve announced that interest rates were not increasing there; and uncertainty in some European countries continues to weaken the Euro. Exchange rates of over 67¢ seen in the last two weeks are the highest recorded against the Euro.

It was a another good market, with widespread competition, even though not all buyers for China was as active as they have been in other weeks, and the exchange rates rose against all key currencies. The strong market on Wednesday resulted in a 9¢ lift in the EMI on that day, with a further, but more modest, lift of 3¢ on Thursday. Rises were recorded for all wool types and micron ranges in all currencies.

Prices for skirting types were up in all Regions on Wednesday and remained firm, or up, in the North and South on Thursday. Prices were easier in the West on Thursday in line with an easing in fleece type prices. Crossbred average MPGs were up by 2.5% to 3% at the fine and medium end and by 2.2% for 30 microns and by 1.1% for 32 microns. Oddments again rose, with the average Merino Cardings MPG up by 12¢ (+1.8%).

Buyers for China were again dominant, followed by buyers for Europe, Taiwan, and India.

Sales will be held in Sydney, Melbourne and Fremantle next week, when 44,184 bales are currently rostered for sale. The present estimate for the following sale (Week 40) is 44,830 bales; a decrease of 4.2% over the two sale period when compared with last year. Sales will be in recess in Week 41, the week after Easter.

In South African sales, the Cape Wools Indicator was up by 2.2% since last week against a 1.1% appreciation of the Rand against the US Dollar and a 0.4% depreciation against the Euro. 6,530 bales were on offer.

Click here for more details.

Australian Wool Industries Secretariat


Must ReadView All

Pic: Shutterstock

Textiles | On 8th May 2021

French Development Agency to invest $83m in Ivory Coast cotton sector

Over a period of five years, the French Development Agency (AFD) will ...

Pic: Juki

Apparel/Garments | On 8th May 2021

Japanese companies collaborate to develop sewing machine business

Juki Corporation and Pegasus Sewing Machine Mfg have entered into a...

Pic: Rocky Brands

Apparel/Garments | On 8th May 2021

Rocky Brands expands Made in America capabilities

Rocky Brands has expanded the offering of its Made in America product ...

Interviews View All

Textile Industry, Head honchos

Textile Industry
Head honchos

Money never disappears-it just finds new opportunities

Textile Industry, Head honchos

Textile Industry
Head honchos

Indian apparel industry looks poised for slow death

Textile Industry, Head honchos

Textile Industry
Head honchos

Tech in fashion industry has hit acceleration button

Gus Bartholomew,

Gus Bartholomew

<b>Gus Bartholomew</b>, co-founder of SupplyCompass, explains to <b>Subir...

Shivendra Nigam,

Shivendra Nigam

Delhi-headquartered Cantabil Retail India Ltd was founded by Vijay Bansal...

Bharat Ahuja,

Bharat Ahuja

A mono store brand, <b>Bharat Ahuja's</b> Desire Design Studio has emerged ...

Sachin Pendharkar, Dieffenbacher India Pvt Ltd

Sachin Pendharkar
Dieffenbacher India Pvt Ltd

Germany-based Dieffenbacher Group is a producer of high-quality composites ...

Suresh Patel, Non Woven Federation of India

Suresh Patel
Non Woven Federation of India

The Non Woven Federation of India (NWFI), representing the regional...

Asif Rahman, MIP

Asif Rahman
MIP

MIP is a manufacturer and distributor of high-performance textiles and...

Sailesh Singhania, Sailesh Singhania Label

Sailesh Singhania
Sailesh Singhania Label

The Sailesh Singhania label was created to promote handwoven sarees and...

Seema Gujral, Label Seema Gujral

Seema Gujral
Label Seema Gujral

<b>Seema Gujral</b>'s designs for her eponymous label revolve around...

Ramya Rao & Kavea R Chavali, Kalaneca

Ramya Rao & Kavea R Chavali
Kalaneca

<div>The journey of Kalaneca (kala-Art, Neca- Nikaah) formally began in...

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


May 2021

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


Advanced Search