Wool prices in key Australian markets continued sharply higher in May as the stronger Aussie dollar and brisk demand for Merino counts pushed the benchmark Australian Eastern Market Index (EMI) up by more than 13 percent for the month, from $4.24 to $4.59.
The rally continued into early June, with strong demand for all types and descriptions of the fiber pushing prices to finish the week ended June 5 at a peak of $4.81.
However, over the next few weeks the bottom started to fall out of the market with an increase in quantities for sale appearing as if like magic despite the projected decline in shorn wool production.
Prices finished down by almost 7 percent in June, at $4.27, though well above the lows seen in February and March.
Amazon Dash speeds into the apparel business while the new Echo Look allows Alexa to snap pictures and offer fashion advice.Read more
Store foot traffic and sales in the U.S. both fell in March, according to analytics firm Retail Next, but the declines were the lowest since November 2016.Read more
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