Weekly Market Reports


14 September 2012

admin Macwool - Friday, September 14, 2012

WEEKLY MARKET REPORT

Week Ending 14th September, 2012

Northern Micron Indices Comparison: Source of information: AWEX

AWEX
INDEX

This Week
14/09/12

Last Week
07/09/12

Change

Last Year
15/09/11

Yearly
Change

17

1308

1275

+33

2183

-875

18

1192

1148

+44

1785

-593

19

1126

1084

+42

1553

-427

20

1090

1047

+43

1385n

-295

21

1085

1041

+44

1337n

-252

22

1054

1027

+27

NA

-

23

1026n

1017n

+9

NA

-

28

565

558

+7

688n

-123

30

550

550

0

633n

-83

32

468n

445

+23

NA

-

MC

575

553

+22

751

-176

BACK ON TRACK

At long last the wool market did what we were hoping for. A rise of all types and descriptions was welcome news after a run of falls that stretched six consecutive weeks back to Sale 2 and totaling 150 cents. The market had threatened to rise after flat-lining for the past three weeks and positive talk last Friday from a few buyers that the market would be dearer rang true. A Wooltrade sale late on Friday also confirmed that a positive tone was imminent. The softening exchange rate, to under 102US cents, also triggered some sales on Friday.

The market opened dearer and climbed progressively throughout the sale. The only indicators to soften a touch on the second day were 20 and 23s which lost 5 to 10 cents after rapid gains on Wednesday. This minor hiccup in the medium range didn’t hamper the rises as 18.5 and finer rose 30 to 45 cents with 19 to 22s taking a 30 to 50 cent jump. The broader merino indicators added 10 to 15 cents to their previous week’s values. The EMI rose by 31 cents to 958 - the biggest weekly rise since early February. Discounts shrank and the clearance rate climbed to over 95%.

The highlight was in Melbourne with an 11.1 micron bale, the finest ever offered at auction, (a/c Pyrenees Park in Victoria) making 110,000 cents($110/kg) bought by Schneider for spinning and weaving in Biella, Italy - this season’s record thus far. A 12 micron lot made 200,000 cents last year!

Skirting’s followed the fleece room’s lead as all types and descriptions benefited from good gains on both days. By week’s end this sector looked 40 to 50 cents higher with most emphasis on the 4 to 8% VM lots in the 19 to 20 micron range. This follows on from a solid basis set three weeks ago, although buyers are still wary of the odd lot containing cot and jowl. Cardings continued on from last week to record another rise of 22 cents overall.

All growers should have received in the last few weeks their voting entitlements for WoolPoll. It was frustrating to see that almost no time was given by AWI to check if your entitlements are accurate. The letter was dated Aug 31 and contact with supporting evidence was to be returned by Sept.7, the day many growers received it in the mail. We are having discussions with AWI about the timeliness of this and waiting to see if the date can be stretched for those who have discrepancies to sort out. Please contact us if you need help.

Unfortunately, we are not in a position to give growers information about wool tax paid between July 2009 and March 2011as these records are held with the old company and we have no access to them.

Next week 43,000 bales will be offered in all three centres with a dearer  trend predicted.           

                   

Ag Concepts forward price trades W/E 14 September

MPG

Maturity

High

Low

28

31-Oct-12

540

540

21

23-Jan-13

1110

1110

21

06-Feb-13

1110

1100

20

20-Feb-13

1110

1110

21

20-Mar-13

1120

1090

21

19-Jun-13

1130

1130

               

1

Queensland Cotton

3788

2

Lempriere (Aust)

3567

3

PJ Morris

3015

4

Techwool Trading

2977

5

Viterra Wool

2445

6

Fox & Lillie

2358

7

Modiano (Aust)

1595

8

G Schneider (Aust)

1286

9

Michell Australia

716

                       

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

                Eastern 958 cents é 31 cents compared with 06/09/12                        1.0480 é 0.0280 compared with 06/09/12

                Northern Market Indicators (AUD cents/kg clean)

                Northern 974 cents é 30 cents compared with 06/09/12

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