Weekly Market Reports


1 February 2013

admin Macwool - Friday, February 01, 2013

WEEKLY MARKET REPORT

Week Ending 1st February 2013

AWEX Northern Micron Indices Comparison

AWEX INDEX

This Week

01/02/2013

Last Week

25/01/2013

Change

Last Year

02/02/2012

Yearly Change

17

1505n

1458n

+47

1682

-177

18

1414

1379

+35

1499

-85

19

1348

1306

+42

1418

-70

20

1260

1223

+37

1346

-86

21

1241

1209

+32

1302

-61

22

1224n

1191

+33

1290n

-66

26

814n

803n

+11

759n

+55

28

624

613

+11

596n

+28

30

584

577

+7

524n

+60

32

498

489n

+9

482n

+16

MC

737n

729

+8

697n

+40

         

CHINA WANTS OUR WOOL

It was a good week for woolgrowers this week; particularly those east of Dubbo who were lucky enough to be under falls ranging from an inch to ten inches! The market didn’t open until Wednesday due to the long weekend, and it seemed like the wait bottled up their excitement as nearly all indicators saw an immediate 30-50 cent jump with a more subdued rise on Thursday. The offering of just under 40,000 bales was the smallest offering since October and Chinese interests were keen to gather stock on the back of recent promising economic news on their domestic front.

The offering generally is free of most faults, the long dry spell has most clips with little colour, cot or vegetable fault. The stand out performer this week was carding lambswool (30-50mm range). Some of these lots sold to extreme levels - several hundred cents above expectations. These lines are nearly always not measured for length and strength as they are below 50mm and yet yesterday they were making the same money as measured lines of 60mm.

Across the catalogue though, there were no potholes and we achieved a 100% clearance which included some old lots selling 100 cents above offers 7 months ago. In Sydney this week the average micron for merino fleece was 19.55 with an average value of 907 cents greasy or $1632 a bale.

Another pleasing aspect of this week’s market was the comparative lift in forward prices. As we have said for some time, growers need to think in advance about which levels they wish to sell at and place an order. Many of our clients did this over the past few weeks and were rewarded with trades on Wednesday and Thursday at levels for May/June full tote or above this weeks close.

Final arrangements are in full swing for next Saturday’s Open Day and Ram Sale (Feb 9). The following companies will be represented: Furneys CRT, Coopers Animal Health, Bayer, Virbac, Novartis, Waratah Fencing, Shearing Supplies, Metalcorp, Woolerina and AgConcepts. Ian Simpson from Rabobank will be attending with tongs and apron keen to show his form on the BBQ. Kick off time is 10am with lunch from 12 onwards. Come and join us!

January was a record month here in the wool store with over 4000 bales received and tested. Our usual peak, or months over 4000 bales are April to July. A few things can be attributed to the increase, those being a few new clients; the dry weather has seen no disruption to shearing; and as sheep prices are so low, many sale sheep are being shorn to at least get something from the wool. The January AWTA figures showed a national increase of 12% compared to last year and YTD an increase of around 4%. The next few months will be interesting.

Next week close to 52,000 bales will be offered with Macwool offering 1400 bales on Wednesday with several cracking clips!

                                                                        Ag Concepts Fwd Price Trades W/E 01 February

MPG

Maturity

Low

High

MPG

Maturity

Low

High

21

20-Feb-13

1210

1220

 

23

18-Sep-13

1115

1115

19

10-Apr-13

1335

1335

 

21

23-Oct-13

1200

1210

21

24-Apr-13

1220

1250

 

21

11-Dec-13

1200

1200

21

19-Jun-13

1250

1250

 

19

22-Jan-14

1280

1280

21

21-Aug-13

1200

1230

 

21

19-Feb-14

1180

1180

 

 

1

Techwool

4793

2

Viterra

4095

3

Fox & Lillie

3161

4

Dalgety Wool Exports

2972

5

Tianyu

2219

6

PJ Morris

2125

7

Chinatex (Aust)

1650

8

Australian Merino Exp

1492

9

Lempriere (Aust)

1258

 

Eastern Market Indicators (AUD cents/kg clean)                                              AUD/USD Currency Exchange

1138 cents é 39 cents compared with 24/01/2013                                           1.0411 ê 0.0129 compared with 24/01/2013

 

Northern Market Indicators (AUD cents/kg clean)

1158 cents é 29cents compared with 24/01/2013

 

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