Weekly Market Reports


12 October 2018

admin Macwool - Friday, October 12, 2018

WEEKLY MARKET REPORT

Week Ending 12th October, 2018

AWEX Northern Micron Indices Comparison

AWEX

INDEX

This Week 

S15/18 

This Week  

M15/18  

Last Sale  

S14/18 

Sydney Change

Last Year   

Sydney   

  Sydney Yearly  

Change

17

2857   

2775   

2869   

-12   

2301   

+558   

18

2593   

2563   

2583   

+10   

2156   

+437   

19

2381   

2389   

2346   

+35   

1886   

+495   

20

2278   

2278   

2225   

+53   

1681n   

+597   

21

2243   

2263   

2186   

+57   

1589n   

+654   

22

-   

2262   

-   

+96 (M)   

1502 (M)   

+760 (M)   

26

1331   

-   

1351n   

-20   

1053   

+278   

28

906n   

860   

904n   

+2   

753   

+153   

30

711n   

768   

701n   

+10   

526   

+185   

MC

1382   

1410n   

1385   

-3   

1188n   

+194   

MARKET ON THE UPWARD TREND, STORMS STILL PATCHY

The wool market did what everyone was hoping for after last Thursday’s solid finish to that series. Good gains over the 2 days had the AWEX EMI recapture almost a third of its losses from the previous 3 sales, up by 31 cents to sit back over the 2000 cent mark at 2023. The relative stability of the FRX saw the EMI in $US post a 20 cent gain to 1430. The biggest benefactors were the broader microns, > 19 up by 35 to 60 cents as finer microns were a touch cheaper bar the superior types that were quoted 50/60 dearer under renewed competition.

Skirtings also followed the lead from their fleece wool counterparts ascending by 20 to 30 cents with emphasis on < 5% VM. Cardings had a flat sale after LKS gave up 10/20 cents while STN added a similar amount. This halted the steep falls of the past 3 sales (178 cents) after setting a new record in early September. Crossbreds had an up and down series as < 26s lost 20 to 30 cents while broader types added up to 10 cents.

The market certainly benefitted from the lower $A v $US rate on Wednesday as the conversion rate was at its best for almost 3 years. The lift in the market a relief for growers as many thought the correction was in the wind for last sale. Exporters scrambled to cover off inventory as some of the larger top-makers and indent buyers have made the decision to ramp up their purchases to ensure supply for upcoming increased machinery demands. Focus is well and truly on a shortfall in supply and a major concern for all in the processing chain. We are already 64,500 bales (12%) behind last season’s volume offered with this figure to become larger. With this in mind the Aust. Wool Prod. Forecasting Committee will meet on 14th November, 4 weeks earlier than was scheduled to give an updated report on how the numbers will be crunched re forecasted volumes post-Christmas something the Global Textile industry will be keeping a very close eye on.

All growers should have now received information for the Woolpoll 2018 vote. There are only 3 weeks left to vote either by reply paid mail, a toll free number (1800 211 736) or online at www.woolpoll.com.au AWI has been holding a series of info seminars to talk about marketing and research and the vote on the level of wool tax growers can vote on 1 of 5 options. Meetings at Dunedoo and Wellington saw about 30 growers at each - AWI stressed the importance of voting and how the reduced volume of wool sold will affect the amount of tax to be collected thus putting some projects at risk due to less wool tax revenue. Market should be stable with 37,000 bales on offer.        

                                     Ag Concepts Fwd Prices as at 12 October, 2018

Micron

Date

Low

High

21

23-Jan-19

2200

2200

21

10-Apr-19

2165

2165

 

                 Main Buyers (this week)

1

Techwool

3866

2

Tianyu

3183

3

Fox & Lillie

3011

4

Modiano

2172

5

Aust. Merino

1946

6

PJ Morris

1639

7

Michell Aust.

1564

8

Seatech Ind.

1398

9

Lempriere

1072

Eastern Market Indicators (AUD cents/kg clean)

2023cents é 31 cents compared with 5/10/2018

Northern Market Indicators (AUD cents/kg clean)

2070 cents é 20 cents compared with 5/10/2018



AUD/USD Currency Exchange

0.7070 ê 0.0010 compared with 5/10/2018

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