Home / Knowledge / News / Textiles / Wool market at highest level ever

Wool market at highest level ever

03
Feb '11
The wool market put up another strong performance at this week's sale when the Cape Wools Merino indicator rose 2.8% to close at R80.29/kg (clean), its highest level ever. This is up 38% on the opening sale and 30% higher than at the same sale last season.

In Australia, where the weekly offerings are smaller than usual due to delays in shearing and the transport of wool from certain areas as a result of rain, the market indicator rose by 3.2%.

Increased global demand for wool and an expected further decline in Merino wool production this season currently are the main reasons for the price increases.

The rand, at R7.06, was relatively unchanged against the US dollar compared with last week's rates, while it was 1.6% weaker against the euro at R9.77.

This week saw another small offering with only 6 525 bales on offer of which 96% was sold. The selection of long, quality fleeces were limited, which meant that quality wools fetched excellent prices.

Major buyers were Standard Wool SA (3 132 bales), Modiano SA (1 367 bales), and Stucken (845 bales).

Average prices for good top-making (MF5), sound, long fleeces (less than 1% seed content) were as follows: 20 microns were 4.1% dearer at R84.87/kg; 20.5 microns rose 2.5% to R81.13/kg; 21 microns strengthened by 3.1% to R78.37/kg, and 21.5 microns were up 3.9% at R78.16/kg.

Approximately 6 500 bales will come under the hammer at next week's sale.

Cape Wools SA


Must ReadView All

Pic: Shutterstock

Textiles | On 3rd Aug 2021

Pingnan County in China investing ¥26 bn in textile industry cluster

Pingnan County in the Guangxi region of China is building a textile...

Pic: Shutterstock

Apparel/Garments | On 3rd Aug 2021

84% industrial units in Bangladesh reopen; union leaders concerned

Around 84 per cent of Bangladesh's textile and readymade garment...

Pic: Shutterstock

Apparel/Garments | On 3rd Aug 2021

Prime Content| Vietnam textile & garment exports at $17.953 bn in Jan-June '21

Vietnam earned $17.953 billion from textile and garment exports in...

Interviews View All

Textile Industry, Head honchos

Textile Industry
Head honchos

Marry craft and utility

Textile Industry, Head honchos

Textile Industry
Head honchos

Blockchain is not a silver bullet for each and every problem in supply...

Textile Industry, Head honchos

Textile Industry
Head honchos

Uniform designing is a numbers game

Ritu Oberoi,

Ritu Oberoi

Mumbai-based Forsarees is a socially driven business enterprise, working...

Chendhuran Sundar,

Chendhuran Sundar

Headquartered at Singapore, Crocodile is a global fashion and lifestyle...

Shyam Gupta,

Shyam Gupta

Established by <b>Shyam Gupta</b> in 1978, Gargee Designer's (GD) offers...

Daniel Kaye, RocketLife

Daniel Kaye
RocketLife

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

Sven Ghyselinck, Devan Chemical

Sven Ghyselinck
Devan Chemical

Headquartered in Belgium and with offices in the United Kingdom, Portugal...

Frank Heislitz, Freudenberg

Frank Heislitz
Freudenberg

Freudenberg Performance Materials is a leading global manufacturer of...

Abhishek Bajaj & Samiksha Bajaj, Samshek

Abhishek Bajaj & Samiksha Bajaj
Samshek

Samshek is a fashion forward tech brand which combines digital experience...

Sarah Denise Cordery, Sarah Denise Studio

Sarah Denise Cordery
Sarah Denise Studio

Manchester, England-based Sarah Denise Studio provides relevant fashion...

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


July 2021

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


Advanced Search