Home / Knowledge / News / Textiles / AWEX Merino Cardings MPG down by 22¢

AWEX Merino Cardings MPG down by 22¢

10
May '10
The Australian wool market finished 0.1% lower, on average, at sales in Sydney, Melbourne and Fremantle this week when the US exchange rate fell by 2.2%.

42,676 bales were on offer, compared with 38,877 bales last week, of which 11.5% were passed in, comprised of 9.8% in Sydney, 8.4% in Melbourne and 21.7% in Fremantle. Pass-in rates for Merino fleece and skirtings were 12.4% and 8.8%, respectively.

1,636 bales (3.7%) from the expected offering of 44,312 bales were withdrawn prior to sale and re-offered bales made up 14.4% of the final offering. 37,782 bales were cleared to the trade.

Financial commentators indicate that the fall in the US exchange rate this week (particularly on Friday when the Reserve Bank closing quote was 88.79¢) is mostly due to the Greek financial crisis and the associated global uncertainty that saw sharp downturns in international share markets during the week.

The market steadied this week in A$, as the US exchange rate fell sharply on Wednesday. The trade reports that there was widespread strong competition in the sale rooms; and that the better types of fine wool picked up premiums in the North. Gains were obtained across most Merino micron ranges, but were not sufficient to lift the EMI in US terms. The strongest gains occurred at the finer end.

The prices for skirting types, although mixed, generally finished on a firm note. Crossbred types again experienced small increases, ranging from 2¢ to 6¢, across all micron ranges. Oddments eased sharply, continuing the falls seen in recent sales. The average AWEX Merino Cardings MPG was down by 22¢ (-3.7%), but is still 19% above where it was at the beginning of the season.

Buyers for China were still less aggressive than at their peak earlier in this year. But, they were again the major buyers, followed by buyers for Europe, India and Taiwan.

Sales will be held in Sydney, Melbourne and Fremantle next week, when 40,704 bales are currently rostered for sale. Present estimates for the following two sales (Weeks 47 and 48) are 43,945 and 40,320 bales, respectively; an increase of 1.2% over the three sale period when compared with last year.

Sales are in recess in South Africa.

Click here for more details.

Australian Wool Industries Secretariat


Must ReadView All

UK Prime Minister Boris Johnson (Right) in virtual conversation with New Zealand PM Jacinda Ardern Pic: GOV.UK

Textiles | On 21st Oct 2021

UK, New Zealand agree to comprehensive trade agreement

The UK and New Zealand have agreed to a comprehensive trade agreement ...

Pic: Shutterstock

Textiles | On 21st Oct 2021

China's FDI inflow up by 19.6% in first 9 months of 2021

Foreign direct investment (FDI) into the Chinese mainland, in actual...

Pic: Shutterstock

Textiles | On 21st Oct 2021

India’s cotton consumption to rise in market year 2021-22

The highly competitive prices of Indian cotton fibres in the global...

Interviews View All

Textile Industry, Head honchos

Textile Industry
Head honchos

Trainers faced immense challenges as most were not tech-savvy

Textile Industry, Head honchos

Textile Industry
Head honchos

Led by MMF, Indian apparel exports likely to double in next 3 years

Footwear Industry, Footwear Retailers

Footwear Industry
Footwear Retailers

Still struggling to mop up higher sales

Raiyan Islam,

Raiyan Islam

Founded in 1981 by Sayeeful Islam, Concorde Garments Group is a market...

J Vargas,

J Vargas

With a vision to be the world's top tier textile manufacturer, Badjatex...

Yawer Ali Shah,

Yawer Ali Shah

Synthetic colours and dyes were all the rage till the very first ban on...

Thomas Ong P S, NanoTextile

Thomas Ong P S
NanoTextile

Malaysian company NanoTextile Sdn Bhd taps into the potentials of...

Daniel Kaye, RocketLife

Daniel Kaye
RocketLife

<div>RocketLife, an award-winning developer of breakthrough visual...

Steve McCullough & Marco Weichert, Functional Fabric Fair & Design and Development GmbH Textile Consult respectively

Steve McCullough & Marco Weichert
Functional Fabric Fair & Design and Development GmbH Textile Consult respectively

Functional Fabric Fair is a trade-exclusive event showcasing the latest...

Samant Chauhan, Label Samant Chauhan

Samant Chauhan
Label Samant Chauhan

Delhi based fashion designer, <b>Samant Chauhan</b> who mostly works on...

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


October 2021

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


Advanced Search