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Latest Wool Trading News - June 2017

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Australian National Wool Declaration 2017 recommendations published

The AWEX Board has completed its consideration and approval of recommendations made by the Industry Services Advisory Committee (ISAC) with respect to the National Wool Declaration (NWD) and its Integrity Program.   The AWEX Board noted that the increase in the declaration rate to currently over 60% of eligible wool is a positive sign of the acceptance of the NWD as an integral component of the detailed information r...

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2017 Nanjing Wool Market Conference

From 16 to 18th September 2017, Nanjing Wool Market will host the 29th NWM Conference in Inspirock Hotel in Tongxiang Zhejiang Province in China. Conference Location is Inspirock Hotel (Zhenshi Hotel) in Tongxiang Zhejiang Province, China. Nanjing Wool Market Conference is an annual meeting for global wool people to gather together with the aim to discuss current issues of the industry, future developments as well as...

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AWI New General Manager Research announced

Australian Wool Innovation (AWI), the research, development and marketing body of the Australian wool industry announced its new General Manager, Research. Dr Jane Littlejohn, who has previously held the role of General Manager, On Farm Research at AWI, has been appointed to the role of General Manager, Research. AWI CEO Stuart McCullough stated that “after a thorough search for suitable candidates for this significa...

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AWI Australian Weekly Wool Market Report

Following a few weeks of uncertainty and mixed sentiment, the Australian auction market this week finally relented to a weakening price versus demand scenario. Prices for all types and descriptions across the Merino offering faltered somewhat and falls of varying degrees occurred. By and large the crossbred and carding sectors bucked the trend and stayed relatively firm around the established basis. The AWEX EMI (eas...

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New Zealand Wool Market report (25 May 2017)

The North Island offering of 7,700 bales saw a 69 percent clearance with most types easing in local terms mainly due to a significantly stronger New Zealand dollar.   The weighted indicator for the main trading currencies was up 1.36 percent compared to the last sale on 18th May and 1.51 percent stronger against the US dollar.   Compared to the last North Island sale on 11 May where similar wools were on offer, the l...

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The wool market traded lower at this weeks’ auction and the Cape Wools Merino Indicator decreased by 2,3% and by 380 points to close at a value of R158,57 (Clean). The Australian EMI lost 2,4% this week. The Cape Wools All Wool Indicator lost 2,3%. Sentiment on the wool market was heavily influenced by the volatility and strengthening of the Rand. The 2016/17 wool growing season is nearing its end and at this penulti...

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Mohair Sale Report (25 May 2017)

The penultimate sale of the 2017 mohair summer season took place in Port Elizabeth on 25 May. A fairly large volume of 136 734 kg was on offer, with 96.8% of the offering sold. The offering consisted of very good quality mohair in general, including some excellent individual clips.   Despite a stronger SA currency, the market continued on an upward trend and closed 1% higher on R197.83 p/kg. There was strong competit...

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British Wool Appoint New Head of Marketing

British Wool, the organisation that sells and promotes British grown wool to the international textile industry has appointed Graham Clark as its new Head of Marketing.   A Masters graduate in Marketing Graham has come from a background in joinery and kitchens. Until recently he was Marketing Manager at XL Joinery. His role there included responsibility for shaping the marketing strategy in the organisation.   Origin...

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The Woolmark Company and Max Mara develop Wool Denim

Max Mara and The Woolmark Company have together developed an innovative Wool Denim line for Max Mara’s wool-rich Autumn/Winter 2017 collection, celebrating the unique qualities of Australian Merino wool. Max Mara has utilised innovative 100 per cent Wool Denim fabrics that replicate the look and style of traditional denim – retaining the traditional 3/1 weave – but have added benefits thanks to the natural qualities ...

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Exhibition space application for ITMA 2019

Exhibition space application for ITMA 2019, the world’s largest textile and garment technology exhibition, opens today. The exhibition, which has been held every four years since 1951, showcases the entire textile and garment making manufacturing chain, as well as raw materials. As the most established industry exhibition, ITMA’s owner, CEMATEX – the European Committee of Textile Machinery Manufacturers – constantly ...

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AWTA Acquires Geelong Textile Testing Business

AWTA Product Testing (an operating Division within AWTA Ltd) has acquired the Geelong based textile testing business Textile Quality Research Trademark Management (TQRTM). Mr Michael Jackson, AWTA Ltd’s Managing Director has explained the acquisition was part of a broader diversification and strategic plan, with TQRTM an important component for growing operations where independent testing is a necessary part of the v...

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Chemical groups Huntsman and Clariant in $14 billion merger

U.S.-based Huntsman Corp and Switzerland’s Clariant AG are combining to create a chemical manufacturer with a market value of more than $14 billion, they said on Monday, after years of tentative mutual approaches. The deal creates a global specialty chemicals company that is 52 percent own by Clariant shareholders and valued at around $20 billion when including debt, Clariant said in a statement. Reuters reported in ...

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Moody’s downgrades China’s credit rating

China has received a downgrade on its credit score, on worries about the future state of the economy. Moody’s Investors Services brought down China’s long-term local currency and foreign currency issuer ratings by one notch to A1 from Aa3. But China’s finance ministry said Moody’s was exaggerating the mainland’s economic difficulties and underestimating reform efforts. The downgrade could raise the cost of borrowing ...

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Whitham Mills marks record growth with Manchester move

Waste management and woolen press machinery designer and manufacturer Whitham Mills has marked a 35 per cent increase in year-on-year in revenue with a move to a new 33,000 sq ft headquarters at the Stakehill Industrial Estate, on the outskirts of Manchester.   The company is the UK’s fastest growing supplier and servicer of baling machinery and bespoke-engineered technology to the international recycling industry. I...

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Growing orders for Italian textile machinery manufacturers

2017 has started off on a positive note for Italian textile machinery manufacturers. For the first quarter, orders have increased both in Italy and abroad. ACIMIT president Raffaella Carabelli: “Orders for the start of 2017 confirm a positive trend in major foreign markets, and a climate of trust for Italy’s textile industry that is on the upswing.”   The orders index for textile machinery compiled by ACIMIT, the Ass...

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Annual profits fall by 64% for M&S as revamp costs bite

Profits at Marks and Spencer fell by almost two thirds to £176.4m last year following a costly business overhaul. The retailer said that a decline in clothing sales and higher costs from opening new food stores were partly to blame for the 64% fall. Sales were flat at £10.6bn in the year to the end of March 2017. Chief executive Steve Rowe revealed that like-for-like sales in his first full year in charge fell by 1.9...

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