Home / Knowledge / News / Textiles / Prices decrease at Australian wool auctions this week

Prices decrease at Australian wool auctions this week

22
Nov '19
Pic: Shutterstock
Pic: Shutterstock
The gains of last week were eliminated entirely as values fell 15 to 25ac across all the wools on offer at the Australian wool auction sales this week. The AWEX (Australian Wool Exchange) EMI (Eastern Market indicator) lost 19ac or 1.2 per cent this week to close selling at 1555ac clean/kg. The USD EMI fell 1.2 per cent or 13usc to close at 1057usc clean/kg.
 
"Volatility remains the key ingredient to market behaviour. A stable basis of trade appears to be unlikely in the current environment as fluctuations in price and demand wobble in and out week to week. The movements are becoming somewhat more predictable in direction though as volumes on offer and the Western Australian market close are flagging initial movements for the following week," the Australian Wool Innovation (AWI) Limited said in its report for the sale week 21 of the current Australian wool marketing season.
 
"A good mix of wool buying interests were active throughout the week, with traders, top makers, indent operators and processors all showing intent to purchase as the price drifted lower. The price retreat should indicate a weak tone but the sale room competition was perhaps some of the more widespread and normal buying patterns we have seen for some weeks," the AWI report for the week ending November 22 said. 
 
As per the season-long trend, pass in rates climbed as prices weakened. The intentions of growers and their wool selling brokers to hold their wool, rather than to accept prices of 20 to 30ac below their pre-sale valuations is now pretty well standard operating procedure, particularly in the West.  The national pass in average hit a touch over 16 per cent this week. Of most note was the figure of almost 30 per cent of the Western Australian Merino fleece failing the meet the price expectations of wool grower sellers.
 
Next week has another large offering of almost 40,00 bales which, if hitting the recent trend according to the volume assessment, would see the market struggle. Counteracting this though is the strong finish to selling in Fremantle which has recently flagged a market rise for the following week. Looks like a coin toss to which direction the market sails, but maybe “unchanged” could result which is a term minimally used for the past three to four months, AWI said.
 

Fibre2Fashion News Desk (RKS)


Must ReadView All

Pic: Shutterstock

Textiles | On 5th Dec 2019

Vietnam, Egypt should resolve issues to raise trade: MoIT

The two-way Egypt-Vietnam trade value of $470 million last year does...

Pic: Lenzing

Textiles | On 5th Dec 2019

Lenzing has vision towards net-zero CO2 emissions by 2050

The Lenzing group, a recognised leader in climate action, recently...

Pic: Shutterstock

Textiles | On 5th Dec 2019

Pak releases Rs 81.132 mn for textile industry development

Pakistan's ministry of planning development and reforms has so far...

Interviews View All

Riddhika Shah, SS Homme

Riddhika Shah
SS Homme

'Worsted wool is the ideal fabric for menswear'

Top executives, Textile & apparel bodies

Top executives
Textile & apparel bodies

The mid-term review of FTP is progressive, growth oriented

Manfred Mentges, Sedo Treepoint GmbH

Manfred Mentges
Sedo Treepoint GmbH

We see a higher demand in colour management systems, as customers see big...

Sugandha Bhardwaj,

Sugandha Bhardwaj

<div>New Delhi-based Brinjal Designs Pvt Ltd manufactures home furnishing...

Hardik Sanghvi,

Hardik Sanghvi

Idealin Fogging Systems has been engaged in designing and manufacturing...

Lukas Hartmann,

Lukas Hartmann

Intex Consulting GmbH is a completely integrated enterprise resource...

Justin Chan & Shyam Gollakota, University of Washington

Justin Chan & Shyam Gollakota
University of Washington

A fabric that can store data without any electronics or batteries has been ...

Steve Cole, Xerium Technologies

Steve Cole
Xerium Technologies

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

Johan Berlin, Investkonsult Sweden AB

Johan Berlin
Investkonsult Sweden AB

Investkonsult Sweden AB are consultants in the nonwoven and absorbent...

Varsha Wadhwa, VW

Varsha Wadhwa
VW

Coming from a family that ran a business of jute and linen mills since...

Sonam & Paras Modi, SVA

Sonam & Paras Modi
SVA

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

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


December 2019

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


Advanced Search