The Australian wool business started off with a bang in February with prices jumping 3 percent on a local currency across virtually all fiber types in the first week, according to a Woolmark market report. The increase was helped by renewed strength in foreign markets, relatively tight supplies, and advantageous foreign exchange rates. New record levels of sales on most wool types was the highlight of the week in all three key Australian sales centers, with merino counts doing particularly well.
However, the excitement was short-lived, as forecasts of rapidly growing supply seemed to slow buyers’ willingness to pay the higher prices, particularly in the merino fleece sector, which went through a bit of an adjustment after the success of the prior week. Prices retreated, which caused some sellers to withdraw their supplies from the market. Non-merino sectors ended up faring pretty well, though optimism remained cautious heading into the Chinese New Year period, when Chinese demand softens.
By the end of the month, though prices had fallen a bit, they ended up 1.5%, or six cents per pound on a U.S. dollar basis, above January month-end levels. The Australian dollar began to strengthen, but there were some signs of relative stability on the demand side while supplies failed to surge by as much as some forecasts had predicted.
How Amazon may strip Whole Foods of its touchy-feely ethos—and why that's a good thing—had how cold brew proves you can teach old dogs new tricks.Read more
Loftex Home and GHCL sign CertainT licences, Hollander Sleep Products Buys Pacific Coast Feather and Oeko-Tex certifies Tuft & Needle.Read more
The National Retail Federation continues to lobby Congress with regards to the border adjustment tax, reiterating its claim that it would shift corporate tax savings to consumers.Read more
NRF announced new board members this week, while Topshop hired a new CEO and Macy's stepped up its off-price game with a new executive.Read more
Fashion can’t escape what’s happening in the world whether it wants to or not, and for the Autumn/Winter 2018-19 season, textiles will look to balance all that’s been upended.Read more
The Chittagong Port Authority has taken steps to alleviate the congestion situation at Bangladesh’s top port, but no comprehensive plan is in the works to fix what has been a long-term logistical problem.Read more
Looking to boost cotton quality and exports, Egypt’s Ministry of Trade and Industry has signed a cooperation protocol with United Nations Industrial Development Organization (UNIDO) and the Italian Development Cooperation.Read more