Home / Knowledge / News / Textiles / Wool market drops; Skirtings in strong demand

Wool market drops; Skirtings in strong demand

24
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 7.7%. It was a week when global financial issues had the greatest influence on the market.

45,159 bales were on offer, compared with 39,966 bales last week. 12.6% were passed in, comprised of 9.6% in Sydney, 9.9% in Melbourne and 24.7% in Fremantle. Pass-in rates for Merino fleece and skirtings were 13.9% and 11.4%, respectively.

1,626 bales (3.5%) from the expected offering of 46,785 bales were withdrawn prior to sale and re-offered bales made up 16.2% of the final offering. 39,460 bales were cleared to the trade.

The Greek / European financial circumstances overflowed into a critical loss of economic confidence this week that saw the US exchange rate fall by 7.7%, the largest week-on-week fall since the 12.5% fall from 79.08¢ to 69.16¢ in the second week of October 2008. The Euro exchange rate was also affected, falling by 4.1% on Thursday and by 5.3% since the previous Thursday. Both rates fell further on Thursday night and early on Friday before closing at 83.05¢ and 65.82¢, respectively.

The fall in the US exchange rate held the EMI at a relatively unchanged level (compared with the fall of 62¢ in US currency), rather than translating into a higher prices in Australian currency. This was due to the negative impact of the impaired global confidence on commercial and domestic demand.

The market opened with some uncertainty on Thursday and the trade reports that there were some inconsistencies in the market. Nevertheless, competition was good and the smallish offering of better fine wools was again in good demand with premiums being paid. Conversely, poorer wools were less keenly sought.

Skirtings were in strong demand on Wednesday, apart from the higher VM types in the West. Prices remained firm, or slightly up, on Thursday. Crossbreds were again in good demand, with their average AWEX MPGs up by from 0.8% at 26 microns to 1.5% for 28 microns. Oddments continued to ease, but at a lesser rate than in recent weeks. The average AWEX Merino Cardings Price Guide fell by 4¢ (-0.7%).

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

Sales will be held in Sydney, Melbourne and Fremantle next week, when 41,065 bales are currently rostered for sale. Present estimates for the following two sales (Weeks 49 and 50 [North and South only]) are 38,260 and 28,000 bales, respectively; an increase of 8.0% over the three sale period when compared with last year. Sales are in recess in South Africa.

Click here for tables & chart:

Australian Wool Industries Secretariat


Must ReadView All

Pic: I Love Coffee dot Today / Shutterstock.com

Apparel/Garments | On 7th May 2021

Cambodia's garment exports fall 6.43% in Q1 2021

The value of exports of garments and accessories from the Southeast...

Pic: Sateri

Textiles | On 7th May 2021

Chinese firm Sateri acquires Funing Aoyang's viscose fibre business

Sateri, the world's largest producer of viscose fibre, has entered...

Pic: Shutterstock

Textiles | On 7th May 2021

Korea-based Hanwha Total to expand PP production capacity by 60%

Petrochemical company Hanwha Total Petrochemical (HTC) has invested...

Interviews View All

Textile Industry, Head honchos

Textile Industry
Head honchos

Tech in fashion industry has hit acceleration button

Textile Industry, Head honchos

Textile Industry
Head honchos

We are staring at livelihood crisis for weavers

Textile Industry, Head honchos

Textile Industry
Head honchos

Money never disappears-it just finds new opportunities

Ujjval Saraf,

Ujjval Saraf

Founded by Jimmy Lai, Giordano International Ltd, a Hong Kong based...

Nick Isles,

Nick Isles

The Condé Nast College of Fashion & Design or CNC as it is known as,...

Vikram Juneja,

Vikram Juneja

Jaquard is a training institute providing a highly specialised training...

Daniel Kaye, RocketLife

Daniel Kaye
RocketLife

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

Johann-Philipp Dilo, Dilo Group

Johann-Philipp Dilo
Dilo Group

German company Dilo Group is one of the leading equipment suppliers of...

Sameer Sonkusale & Rachel Owyeung, Tufts University

Sameer Sonkusale & Rachel Owyeung
Tufts University

A team at the Tufts University in Massachusetts was recently in news for...

Sandeep Gonsalves & Sarah Gonsalves, Sarah & Sandeep

Sandeep Gonsalves & Sarah Gonsalves
Sarah & Sandeep

Established in 2012, Sarah &amp; Sandeep is a luxury menswear label...

Vidur Adlakha & Riccardo Bennidini, La Fuori

Vidur Adlakha & Riccardo Bennidini
La Fuori

With an active presence in US, Italy and India, clothing brand La Fuori...

Seema Agrawal, Artisan Saga

Seema Agrawal
Artisan Saga

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

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