Weekly Market Reports


1 November 2013

admin Macwool - Friday, November 01, 2013

WEEKLY MARKET REPORT

Week Ending 1st November, 2013

AWEX Northern Micron Indices Comparison

AWEX INDEX

This Week

S18/13

This Week

M18/13

Last Sale

S17/13

Sydney Change

Last Year

Sydney

Sydney Yearly Change

17

1344

1319n

1329

+15

1470

-126

18

1285

1276

1279

+6

1359

-74

19

1260

1249

1245

+15

1258

+2

20

1215

1217

1212

+3

1167

+48

21

1210

1213

1211

-1

1126

+84

22

1202n

1202

1203n

-1

1088

+114

26

791

781n

800

-9

837n

-46

28

659

656

648

+11

599

+60

30

629

622n

625

+4

551

+78

32

553n

-

549n

+4

498n

+55

MC

805

812n

820

-15

625

+180

MOMENTUM BUILDING??

Our dart board prediction seemed about right as a subtle 3 cent rise to 1095 was all the EMI could manage after a week of twists and turns. From reports last Friday of plenty of business done to see an unchanged to slightly better market, sentiment had done a complete back-flip by mid-week to look as though nothing would be able to stop the market retreating. As one buyer put it “too much fine and super-fine wool in Sydney and the Melbourne selection is full of cot/colour and high mid-breaks”. It was as if some disaster had occurred in China and the wool processing industry as a whole had ceased to exist! Thankfully this was not the case as a favourable shift in the exchange rate led to a final day rally in all three centres.

Melbourne sold in isolation on Tuesday, with NZ stored wool making up 30% of the selection. The super-fine offering from across the ditch didn’t help the market as most indicators were up to 10 cents cheaper. Wednesday saw Sydney fall back to Melbourne’s level, but the southern market and Fremantle rallied late with all three centres in sync on Thursday to post modest gains. Fine indicators rose by 15 to 20 cents ahead of next week’s Designated Super-fine sale while most other indicators moved ahead by single figure amounts, bar 18.5 to 19s - up by 10 to 15 cents. Strangely enough 21 and 22s lost just 1 cent but in our catalogue, offered last on Thursday, it looked a different story. A 19.3 with 1.8 VM made 30 cents clean more than an FNF lot; 2 lots of 21s part tender and carrying almost 2% VM made 30 and 40 cents better than the 21 indicator with a sound 20.7 lot 50 cents higher! On the flip-side, a few FNF 20 micron lots with high mid-breaks looked about 15-25 cents lower than the indicator.

Skirtings had a sluggish sale as opening day’s falls of 10 to 20 cents, with emphasis on the 5% VM lots, were not recovered on the Thursday, but were no cheaper. Crossbreds moved ahead by 5 to 10 cents bar 26s which suffered a 10 cent loss. Cardings failed to repeat last sale’s rises as all types and descriptions gave up 10 to 15 cents, despite Locks rallying 5 cents on Thursday. The MCI fell 15 cents to just stay above the 800 cent mark.

Away from the wool market but still on sheep matters, most readers of “The Land” would have noticed a full page add last week to highlight a vote of no-confidence in the ability of ASBV’s to function as a useful breeding tool. Of the 30 studs listed, 22 had abandoned Lambplan while the remainder never joined, but members in this “protest” group refuse to discuss the issue openly. Opinion, depending on who was interviewed, on the pros and cons of ASBV’s is still up for debate as the page 12/13 article in this week’s edition outlines.           

Next week will see a dozen journalists from China and Italy at Yennora for the Designated Super-fine sale. Among other things, they will report on how a wool sale is conducted and the clean/green image that wool portrays when reporting in their local publications. Hopefully this will spur buyers to give the fine sector a much needed lift.       

Main Buyers (This Week)

1

Techwool

4211

2

Tianyu Wool

3491

3

Chinatex (Aust)

3362

4

QLD Cotton

3089

5

Fox & LIllie

2840

6

Aust Merino Exp

2577

7

Lempriere (Aust)

2286

8

PJ Morris

1699

9

Vic Wool Proc.

1180

 

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

1095 cents é  3 cents compared with 25/10/2013                                  0.9492 ê 0.0175 compared with 25/10/2013

 

Northern Market Indicators (AUD cents/kg clean)

1116 cents é  1 cents compared with 25/10/2013

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