Wool prices edged up slightly in November, helped by a decline in the value of the Aussie dollar that stimulated demand ahead of the Christmas break.
According to reports from the Australian Wool Exchange, the Eastern Market Index ended the month at $4.12 per pound, up $0.03, or 0.65%.
The Australian currency declined in value by almost 3 percent compared to the U.S. dollar during the month, which stimulated demand for Australian wool, resulting in more stable pricing.
Demand for the finest Merino counts, buoyed by the luxury market, remained stable throughout the month.
Demand for medium and broad fibers, on the other hand, began the month in a relatively sluggish mode, but strengthened as the weeks progressed.
It remains to be seen whether prices remain at this level. Declining cotton and other fiber prices have generally weakened demand for wool and put downward pressure on prices, particularly in China, the world’s largest processor and consumer of wool.
Belk is bucking the department store trend with plans to open new stores.Read more
In an effort to align itself with consumers’ current shopping habits, luxury retailer Neiman Marcus has announced reorganization plans that includes eliminating jobs and putting Last Call under the microscope.Read more
The International Trade Commission’s Year in Trade report for 2016 shows mixed results in trade among free trade agreement partner countries and trade preference program nations.Read more
This week in footwear: Rocky Brands, reported second quarter net sales were $58.5 million, plus German shoe brands continue to make an impression on the U.S. market.Read more
The Better Cotton Initiative continues to grow from farm to shelf, as its mission of making cotton production more sustainable and the lives of small cotton farmers better expands around the world.Read more
If done right, it could cost less to make a shoe in America than to make that same shoe in China.Read more
Walmart is ramping up in store offerings with its latest pickup tower expansion.Read more