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Latest Wool Trading News - August 2019

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Australian Wool Innovation looks at a record-breaking season

Australian Wool Innovation (AWI) latest monthly report looks at a record-breaking season in terms of price but also examine the reasons for the dramatic drop in demand and therefore price over the last month of trading for this season. As the season came to a close, the wool market had fizzled out in the last month of sales and failed to replicate what had largely been a stellar, record setting year. The AUD EMI set ...

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AWI releases Strategic Three Year Plan

Australian Wool Innovation’s (AWI) strategic plan for the next three years has been published, with traceability, consultation and measurement and evaluation highlighted as the major investment and operational priorities for the not-for-profit company owned by Australia’s woolgrowers. CEO Stuart McCullough said that in drafting the strategic plan for 2019 through to 2022 AWI had incorporated feedback and input provid...

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NZ Wool Market Report 25 July North Island

It was another solid wool sale in Napier. There seems to be not much difference in price between the differing lengths for each style grade. The feeling in the sale room was buoyant with an even spread of purchases. Compared to the sale on the 11th July 2019 the market could be quoted: Fleece: 35 Micron Good Style – 3 to 4% Dearer; 37 Micron & Stronger Good Style – Up to 5% Cheaper; Good/Average Style – Par to Unchan...

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SustainaWOOL™ Integrity Scheme finds a new home

New England Wool Pty Ltd and Italian fabric makers Successori Reda and Vitale Barberis Canonico have transferred ownership of The SustainaWOOL™ Integrity Scheme to the Australian Wool Exchange (AWEX).   The SustainaWOOL™ Integrity Scheme was launched in 2015 in response to demand from consumers and retailers. Since its inception, over 950 farms have been accredited, making it the largest sustainability scheme in the ...

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Queen’s Birthday Honours for Philippa Wright

Philippa Wright has been made a member of the New Zealand Order of Merit for services to the wool industry and sustainability. She has frequently been a spokesperson for the wool industry in New Zealand and internationally. Wright Wool is a privately owned Woolbroker with two subsidiary companies: Country Auctions Ltd and Dag Processors Ltd. We have been operating for over 21 years. Our head office and Wool Store bus...

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Danspin acquires Lawton Yarns

Danspin, Danish yarn manufacturing company acquired UK Lawton Yarns in June 2019. Dewsbury-based Lawton Yarns has been operating for more than a century and supplies more than 50 carpet manufacturers in the UK, Europe and other international locations. ‘We see this merger as a positive step to continue to support our reliable partners with competitive quality yarn, developments and optimal logistic solutions’, says L...

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Economic slowdown for China

China’s economic growth has slumped to its lowest level in nearly three decades as the world’s second largest economy feels the effects of a prolonged trade war with the United States. The country’s gross domestic product grew at 6.2% in the quarter ended June, the slowest quarterly growth rate since 1992 and down from 6.4% in the previous quarter, according to government figures released this month. And the Chinese ...

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2019/20 International Woolmark Prize selects finalists

An expert Advisory Council is facing the tough challenge to select 10 designers to participate in the International Woolmark Prize global final, to be held early-2020. The 2019/20 edition of the International Woolmark Prize attracted more than 300 applications from across the world and the 10 finalists will be announced in October 2019. The International Woolmark Prize Advisory Council includes: Manish Arora, Designe...

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US economic growth slows

The US economy grew less than previously thought last year, missing President Donald Trump’s target of 3%. Revised official figures shows that GDP expanded by 2.5% during 2018. The figures also revealed that growth slowed during the second quarter as exports declined and companies invested less in their businesses. GDP grew at an annual rate of 2.1% between April and June, ahead of expectations but below 3.1% recorde...

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Italian Textile Machinery Orders Intake Down

Italian textile machinery orders, as elaborated by ACIMIT, the Association of Italian Textile Machinery Manufacturers, for the period from April to June 2019, fell by 19% compared to the same period in 2018. The index orders value came in at 84 basis points (2015=100).   Orders for Italian machinery manufacturers were negative in foreign markets, with a 21% decline and an absolute index value of 78.6 basis points. On...

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Key Test Data Summary for June 2019

The monthly comparisons of Total Lots, Bales and Weight for June 2019 compared with the same period last season are:  -23.2%, -25.8% and -25.6% respectively. The progressive comparison of Total Lots, Bales and Weight for July 2018 to June 2019 compared with the same period last season are: -7.3%, -11.8% and -11.8% respectively. AWTA Ltd has tested 317.9 mkg (million kilograms) this season compared with 360.4 mkg for ...

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Eurozone prepares for interest rate cut

The European Central Bank has hinted it could cut interest rates to tackle a slowdown in the Eurozone economy. It said a weak manufacturing sector and uncertainty over Brexit and trade threatened to derail growth in the bloc. The ECB, which kept interest rates on hold last week, said it saw rates at current or lower levels until mid-2020. It is also considering other measures to support the Eurozone, including resumi...

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