Weekly Market Reports


13 May 2011

admin Macwool - Friday, May 13, 2011

Week ending 13th May  2011

 

Northern Micron Indices Comparison: Source of information: AWEX

AWEX
INDEX

This Week
13/05/11

Last Week
06/05/11

Change

Last Year
13/05/10

Yearly
Change

17

2407n

 2399n

+8

1255

+1152

18

2051n

 2026

+25

1154

+897

19

1654

 1629

+25

1057

+597

20

1390

 1358

+32

924

+466

21

1330

 1286

+44

913

+417

22

1270n

 1246n

+24

898

+372

23

1216n

 1191n

+25

881

+335

24

1018n (M)

 1008n (M)

+10

-

-

26

847n (M)

 837n (M)

+10

597

+250

28

640

 640

0

451

+189

30

581

 576n

+5

397

+184

32

531n

 527 (M)

+4

352

+179

MC

774

 781

-7

587

+187

MARKET STAGES A RECOVERY

The recovery of last Thursday kept going as the market has clawed back some of the ground lost before Easter. The EMI added 17 cents to now sit at 1327 cents. Predictions of a cheaper market by as much 40 cents for “off style” types early in the week were off the mark.  The change in sentiment actually came from the annual IWTO conference being held in Hangzhou, China. At the dinner held on Tuesday night, hosted by the Chinese Wool and Textile Association, reference to supply of wool staying at these levels (or even slightly lower) led to a stampede of delegates to ring their agents to book up wool post–haste. This frenzy of business led to the market  adding 10 to 25 cents for all indicators out to 23 micron on Wednesday - this despite the exchange rate climbing from under 107 cents last Friday to over 108 cents early this week. Thursday’s market continued to rise to the tune of 10 to 20 cents for 19.5 and broader while finer types held their ground. As is always the case, discounts for colour, cott and vm shrunk noticeably which benefitted us greatly as just 6 out of 88 fleece lots were under 2% vm with a good number of lots containing reasonable amounts of cot and colour of which most cleared to the trade. By week’s end rises of 15 to 45 cents were the norm for most indicators leaving the EMI 51.2% higher than the same week 12 months ago. The highlight of the week was the sale of 2 bales of 1PP a/c The Wool Factory from Horsham in Victoria, with both bales achieving a price of 20,000 cents. One of their other bales bought 15,000 cents with the 3 bales averaging 12.1 micron, 0.1 vm, 75%, 76mm and 40nkt. G Schneider secured these 3 bales, with one bid apparently, for knitting and weaving in Biealla, Italy.

Skirtings had mixed results with the heavy-fault and cotted types continuing to slip in price while selected lots of finer types with low vm gained as much as 50 cents. Some lots with slight cot and heavy vm, up to 15% sold to a dearer trend as well. Cardings hung on well until late on Thursday when locks and stains lost 10 cents. Crossbreds struggled to move in any direction with the exception of some better style 29 and 30 micron lots which were quoted 10 cents up on last week’s levels.

Predictions of a solid market for the immediate future seems to be the talk on the showfloor as weekly quantities fall to around 40,000 bales, with Fremantle starting a series of one day sales this week. As one buyer said this morning, lack of supply will keep pressure on buyers not currency movements. One can only hope this will be the case for sometime. The national offering is 40,000 next week with our catalogue numbering 700 bales with an unchanged to dearer market anticipated.

Agrisk – CBA Wool Futures Mid-Point Quotes 06/05/2011

20

21

22

AUCTION

1386.0

1320.5

1267.0

Jun-11

1333

1294

1228

Aug-11

1303

1264

1198

Oct-11

1241

1202

1136

Dec-11

1225

1186

1120

Feb-12

1167

1128

1062

Apr-12

1144

1105

1039

Jun-12

1092

1053

987

Aug-12

1090

1051

985

MAJOR AUCTION BUYERS (Bales)

1

Viterra Wool

6493

2

Techwool Trading

4562

3

Fox & Lillie

4103

4

AS Gedge

1980

5

Lempriere (Aust)

1690

6

PJ Morris

1337

7

West Coast Wools

1249

8

Chargeurs Wool

1160

9

Modiano

923

 

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

                Eastern 1323 cents (é17) compared with 05/05/11                            1.0618 ê 0.0118 compared with 05/05/11

                Northern Market Indicators (AUD cents/kg clean)

                Northern 1384 cents (é15) compared with 05/05/11

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