Home / Knowledge / News / Textiles / Strong demand for wool continues to drive prices

Strong demand for wool continues to drive prices

10
Feb '11
The wool market saw another hike in prices at this week's sale and Cape Wool's Merino indicator gained 4.1% to close the week at a fresh high of R83.58/kg (clean).

This is 44.6% higher than at the opening sale and represents an 18% increase since the first sale in January this year. The Australian market has also improved since last week.

Strong demand for wool and small offerings continue to drive prices. There was keen demand for fine fleeces (19 microns and finer) and prices for these types posted the largest increases.

A seasonal high of R118.80 (greasy) was paid for a bale ML280 of 16.2 microns offered by Mr. P.W.B. Uys from Wakkerstroom, Mpumalanga.

The rand, at R7.16, was 1.3% down against the US dollar compared with last week's rates, while it was virtually unchanged against the euro at R9.76.

This week's offering comprised 6 973 bales of which 97% was sold.

Major buyers were Standard Wool SA (2 317 bales), Modiano SA (1 877 bales), and Lempriere SA (1 151 bales).

Average prices for good top-making (MF5), sound, long fleeces (less than 1% seed content) were as follows: 19 microns increased by 9.8% to R116.47/kg; 19.5 microns were unchanged at R99.69/kg; 20 microns were 3.3% dearer at R87.68/kg;

20.5 microns rose 4.9% to R85.14/kg; 21 microns strengthened by 5.8% to R82.88/kg; 21.5 microns were up 4.1% at R81.36/kg and 22 microns were 0.4% dearer at R80.57/kg.

Approximately 10 500 bales will be sold at next week's sale.

Cape Wools SA


Must ReadView All

Pic: Shutterstock

Apparel/Garments | On 30th Jul 2021

ILO outlines 3 scenarios for Asian garment sector recovery trajectory

Looking to the post-pandemic period, a new research brief by the...

Pic: Shutterstock

Retail | On 30th Jul 2021

UK retail sales up 0.5% MoM in June; clothing store sales down 4.7%

Retail sales volumes in the UK increased by 0.5 per cent in June 2021 ...

Pic: Shutterstock

Textiles | On 30th Jul 2021

Prime Content| Here's why global cotton trade will rise in July-Dec 2021

Global cotton trade is expected to rise in the coming months of 2021...

Interviews View All

Textile Industry, Head honchos

Textile Industry
Head honchos

Fabric selection & recommendation based on client's brief

Textile Industry, Head honchos

Textile Industry
Head honchos

Multi-functional garments will be next big thing

Textile Industry, Head honchos

Textile Industry
Head honchos

Main challenges are breakdown of supply chain and shrinkage of manpower

Bharat Ahuja,

Bharat Ahuja

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

David Guiho,

David Guiho

Headquartered in Apt, South of France, Delta Plus designs, manufactures...

Sanjay Vakharia,

Sanjay Vakharia

One of the first few Indian denim brands, Spykar, established in 1992, was ...

Robert Brookins, Alexium International

Robert Brookins
Alexium International

Alexium International is a specialty chemical development company...

Keith McMillen, Bebop Sensors

Keith McMillen
Bebop Sensors

Bebop Sensors' smart fabrics allows for a new level of interaction between ...

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...

Sandeep Gonsalves & Sarah Gonsalves, Sarah & Sandeep

Sandeep Gonsalves & Sarah Gonsalves
Sarah & Sandeep

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

Anjali Bhaskar, Samatvam

Anjali Bhaskar
Samatvam

Samatvam, a womenswear brand that blends age-old craftsmanship with modern ...

Abhishek Bajaj & Samiksha Bajaj, Samshek

Abhishek Bajaj & Samiksha Bajaj
Samshek

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

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