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Latest Wool Trading News - May 2019

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Market Outlook by AWI / Market Intelligence

AWI/ Market Intelligence looks at economic growth and what it means for demand and ultimately price as well as what is making news amongst processors, retailers and brands who choose to use wool. The most recent textile trade show Milano Unica, was held on 5th to 7th February in Milan Italy. This is a highly influential event and reflects the trends of the global textile market. AWI/The Woolmark Company representativ...

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China’s fake-fur coat craze drives up crossbred wool prices

Lamb producers in Australia are seeing record prices for crossbred wool, partly driven by a trend for fake fur coats made in China. Crossbred sheep are used to produce both meat and wool, and their wool is not as premium as that of merino wool. But over the past few months at wool auctions around Australia, crossbred wool prices have surged — even in weeks when most merino micron categories fell. Josh Lamb from Endea...

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Drought continues to impact Australian wool production

The Australian Wool Production Forecasting Committee (AWPFC) has revised its forecast of shorn wool production for the 2018/19 season to 298 million kilograms (mkg) greasy, a 12.7% decline on the 2017/18 season and lower than its forecast of 305 mkg (-10.8%) at its November 2018 meeting. Committee Chairman, Russell Pattinson said that “ongoing drought conditions across large parts of Australia have further decreased ...

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Standard Wool UK – Board level changes

International wool trading and processing group, Standard Wool has announced two changes to its board of directors.   Paul Hughes Jnr, formerly Trading and Finance Director, has been promoted to Managing Director with immediate effect. At the same time former Managing Director Paul Hughes Snr moves to the role of Executive Chairman.   With UK headquarters in Bradford, West Yorkshire, Standard Wool are a global group ...

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IWTO Congress concludes in Venice

Combining Italy’s rich wool heritage with the latest research and developments in wool applications, the 88th Congress of the International Wool Textile Organisation (IWTO) concluded last week in Venice, Italy.   More than 320 delegates, representing all stages of the global wool textile pipeline, attended the annual three-day event. Of these, 25 delegates attended as part of IWTO’s Young Professionals Programme, whi...

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H Dawson Natural Fibre Technologies

‘The British wool industry embodies our national ancestry of landscapes, island communities, technologies and trade’, says Jo Dawson Chairman H Dawson Natural Fibre Technologies – responsibly sourced, ecologically transformed. ‘We are defined by this history but are now bound by a new journey forward.   131yr old H. Dawson Wool is modernising its industry approach by creating innovative sustainable solutions to meet ...

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Australian wool yields down

WOOL yields are down about 2.7 per cent on the same time last year as a result of shorter wools with higher exposure to dust and dirt due to the continuing dry conditions experienced across major wool growing areas. Australian Wool Exchange (AWEX) market information manager Lionel Plunkett said there had been no enormous change so far, but drought wools were starting to come through and would continue into Christmas ...

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UK fashion brands battle for China’s growing market

Shanghai Fashion Week filled the city with models, designers and buyers. The show is becoming a key route into China but the lucrative market remains difficult to navigate. London-based fashion designer Roksanda Ilincic says she admires the adventurous spirit of her Chinese customers. They’re experimental with a taste for clothes that are “vibrant and sculptural yet feminine”, she adds. “The Chinese market really res...

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Australian wool industry reaches consensus on changes to AWI constitution

The board of Australian Wool Innovation (AWI) and woolgrower representative groups have reached consensus on the company’s response to five recommendations of the Government-commissioned Review of Performance (ROP) that involve proposed changes to AWI’s constitution relating to AWI’s democratic election model. AWI Chairman Colette Garnsey said an extensive consultation process – run through AWI’s existing Industry Co...

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Burberry to stop using fur

British fashion label Burberry says it will no longer burn millions of dollars worth of unsold luxury goods or use real fur in its collections after a furore over its environmental record. It admitted to destroying 28.6 million pounds ($51.4 million) of unwanted items in a single year to prevent them being sold at below market prices and devaluing the brand.   That cast a light on waste in the fashion industry — both...

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AWI robotics program seeking collaboration partners

Are you a robotics entrepreneur or engineer who thrives on a challenge? If so, this could be the opportunity you’ve been looking for! With robotics a way of the future in the wool industry, AWI is seeking expressions of interest (EOI) for the development of robotic wool harvesting solutions. General Manger of Research at Australian Wool Innovation Dr Jane Littlejohn explained the goal of the program is to optimise wo...

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IMF’s Lagarde expects U.S. and China to reach trade deal

International Monetary Fund Managing Director Christine Lagarde said she expects the United States and China to reach a deal to end their trade dispute, which has unnerved financial markets and cast a shadow over the global economy. “I would say ‘Yes,’” Lagarde said at the Milken Institute Global Conference when asked whether talks between the world’s two largest economies would end in a deal. Washington and Beijing ...

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