The Australian wool market underwent a radical change in February after the Central Bank of Australia decided to end its monetary easing policy, causing the Australian dollar to rise sharply and wool prices, in dollar terms, to drop in relative terms.
In the final week of January the Central Bank of Australia announced it would stop increasing the money supply. This environment is expected to remain for the foreseeable future as the Australian economy is recovering and the Central Bank is concerned about inflation.
Despite a firming of Australian wool prices in the final week of the month, the average dropped 3% in February in dollar terms, and remain 17 percent below their year-ago levels.
Wool supply has been in somewhat shorter supply due to draught conditions in key regions of Australia, which have been taking a toll on wool production. In addition, soft demand from China has resulted in lower quantities sold.
Over the next few weeks, Italian buyers are expected to enter the market for high end fibers, which should help prices firm.
Lenzing is going beyond its eco-friendly market presence to foster a better planet.Read more
President Trump may be able to count withdrawing from NAFTA among his first 100 days' accomplishments.Read more
Kit and Ace announced today it would close all stores outside of its native Canada.Read more
Off-price has been doing well while much of the rest of retail suffers, and the downfall of the department store will mean even bigger gains for the off-price sector.Read more
Challenges at retail continue to negatively affect the bottom line for companies along the value chain—except in for luxury and fast fashion.Read more
Deckers Brands announced a review of its strategic alternatives Tuesday, which could result in a sale or other transaction.Read more
While fashion and technology continue to blur the lines, a group of intelligent materials may drastically change consumers’ wardrobes in upcoming years.Read more