Home / Knowledge / News / Textiles / Wool market finishes 2.4% lower

Wool market finishes 2.4% lower

06
Apr '10
The Australian wool market finished 2.4% lower, on average, at sales in Sydney, Melbourne and Fremantle this week when the US exchange rate rose by 0.5%.

46,270 bales were on offer, compared with 42,883 bales last week. Pass-in rates were very high, as sellers reacted to the sudden fall in the market. The overall pass-in rate was 23.1%, comprised of 18.3% in Sydney, 19.7% in Melbourne and 35.7% in Fremantle. Pass-in rates for Merino fleece and skirtings were 32.3% and 10.2%, respectively.

1,298 bales (2.7%) from the expected offering of 47,568 bales were withdrawn prior to sale and re-offered bales made up 9.2% of the final offering. 35,586 bales were cleared to the trade.

The US Exchange rate had an “up and down” week, while the Euro exchange rate remained at record levels above 68¢.

This week saw the second easing in the market since the lift when sales resumed in January. Sales opened in a “watch and see” mode on both days, while the market found a new level before serious competition resumed. The market finished on a better note than it started on both days. All types and all micron ranges were affected. Some of the key buyers for China were noticeably quieter, while one who has been less active in recent weeks was a much keener bidder this week. The EMI has averaged 922¢ since January, well above the levels seen in the first half of the season when it averaged 839¢.

Prices for skirting types fell along similar lines to those for fleece types with the exception of Sydney on Wednesday, where AWEX quoted prices as firm on the previous day. Crossbred prices were also down with falls of around 3% in their average AWEX MPGs. Oddments were down also, but generally by less than fleece and skirting types. The average AWEX Merino Cardings MPG was down by 9¢ (-1.4%).

Buyers for China were again dominant, followed by buyers for Europe, Taiwan, and India. It was the second week in a row when strong buying for Europe occurred.

Sales are in recess next week (Week 41) and resume in the week commencing 12 April (Week 42), when 51,524 bales are currently rostered for sale in Sydney, Melbourne and Fremantle. The present estimate for the following sale (Week 43) is 46,150 bales; a decrease of 6.1% over the two sale period when compared with last year.

In South African sales, the Cape Wools Indicator was down by 3.2% since the last sale two weeks ago against a 0.1% appreciation of the Rand against the US Dollar and a 2.4% appreciation against the Euro. 12,775 bales were on offer.

Click here for more details.

Australian Wool Industries Secretariat


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

Dinaz Madhukar, DLF Emporio and DLF Promenade

Dinaz Madhukar
DLF Emporio and DLF Promenade

‘Each event and promotion is planned out keeping in mind the business of...

Hannah Lane, Redress

Hannah Lane
Redress

Encouragement from brands will motivate supply chains to become more...

Divyesh Mashruwala, Akshar Industries

Divyesh Mashruwala
Akshar Industries

Surat dominates foiling, embossing and pleating

Marcel Moser,

Marcel Moser

Switzerland-based Benninger is a leading manufacturer of technologically...

N Nithyanandan,

N Nithyanandan

Incorporated in 1999, Purani Textiless Private Limited is one of the...

Siddhachakra Weaving (Badiya Fashion),

Siddhachakra Weaving (Badiya Fashion)

Ahmedabad-based Siddhachakra Weaving Pvt Ltd was established in 2011 under ...

Wolfgang Plasser, Lenzing AG

Wolfgang Plasser
Lenzing AG

The Lenzing Group is an international company headquartered in Austria...

Steve Cole, Xerium Technologies

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Michaela Griggs & Peggy Schulz, Barco Uniforms

Michaela Griggs & Peggy Schulz
Barco Uniforms

Founded in 1929, Barco Uniforms started as an apparel company for beauty...

Adriano Goldschmied, AG Jeans

Adriano Goldschmied
AG Jeans

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

Karan Arora, Karan Arora

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

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


April 2020

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


Advanced Search