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Insight17 Feb 2017Weekly analysis of the Australian Wool Market by Chris Wilcox, Executive Director of the National Council of Wool Selling Brokers of Australia.
Insight17 Feb 2017The first sale of the 2017 summer season took place on February 14, with a small offering of 61,329 kg.
Insight15 Feb 2017The strengthening dollar placed downward pressure on the dollar price of Chinese man-made fibres. However, rising oil prices, strong demand and limited supply have forced an upward price level since the Chinese New Year. Recorded polyester filament price increase ranged from 2.2% to 6.2% in terms of yuan and 2.1% to 6.1% in terms of dollars when compared to the recorded price level during the Chinese New Year. Polyester staple fibre grew 4.57% in terms of yuan, 4.45% in terms of dollar, while Chinese viscose grew 3.29% in terms of yuan and 3.18% in terms of dollars when compared to prices during the Chinese New Year. The stronger supply position from Indian farmers allowed Indian raw cotton prices to stabilise in terms of INR. Yarn prices also remained relatively stable. Upward pressure on the dollar value of Indian cotton yarn was further reinforced by the positive movement of INR relative to the US dollar, following positive feedback from India’s National Budget Announcement. Globally, meanwhile, volatile cotton prices continued to shift upwards.
