After a volatile May, wool prices in U.S. dollar terms were relatively flat in June, according to reports from the Australian Wool Exchange, allowing the 2013-2014 selling season to end on a quiet note.
Much of the prior month’s price declines were a result of tighter credit by banks in China, which reduced that country’s buying power. Lack of Chinese demand continued to be felt in June, as relatively weak demand resulted in low volume and small price moves.
The Eastern Market Index finished the month down 0.4% to $4.36 per pound, and has fallen 3 percent compared to the same week last year.
The 2013-2014 selling season, though officially over, unofficially wraps up in another two weeks. It can be best described as having had a strong early surge in late August 2013 followed by steady price declines through April that bottomed out in May.
An increasing supply of fine Merino counts throughout the year, presumably in response to healthier high-end businesses in Europe, Japan and the U.S., caused price pressure at the better end of the market. However, many feel that the Merino prices have bottomed out, setting the stage for a healthier balance going into next season.
This week, the apparel industry encountered political promises, heightened personalization efforts and observed a need for more environmentally-friendly business models.Read more
When compliance problems arise, factories shouldn’t be the only ones to blame—the onus should fall on social auditors too.Read more
Oeko-Tex pledged to the Zero Discharge of Hazardous Chemicals (ZDHC) program on Jan. 19 to support the apparel industry's environmentally-friendly efforts.Read more
Nordstrom CIO Dan Little announced his retirement. Plus, Burberry tapped former Céline CEO Marco Gobbetti to take over as its new CEO.Read more
Nine West Holdings, Inc. announced it will acquire apparel manufacturer the Kasper Group.Read more
Our rainforests now have a host of new angels. Victoria Secret has taken steps to protect our forests.Read more