Weekly Market Reports


15 December

admin Macwool - Friday, December 15, 2017

WEEKLY MARKET REPORT

Week Ending 15th December, 2017

AWEX Northern Micron Indices Comparison

AWEX INDEX  

This Week     

S24/17     

This Week     

M24/17     

Last Sale     

S23/17     

Sydney     

Change     

Last Year     

Sydney      

Sydney Yearly  

Change   

17     

2538

2520n

2477

+61

1530

+1008

18     

2300

2308

2273

+27

1508

+792

19     

2086

2092

2015

+71

1430

+656

20     

1883

1890

1794

+89

1359

+524

21     

1745

1740

1669

+76

1350

+395

22     

1642n

1633

1581n

+61

1338n

+304

26     

1115

1126

1064

+51

1000n

+115

28     

785

803

772

+13

844

-59

30     

590

600

571

+19

797

-207

MC     

1470

1498n

1433

+37

1117

+353

 

GREAT YEAR ENDS ON A MASSIVE HIGH!

We were left wondering how AWEX couldn’t find just one more cent for the EMI to create history and crack the 1700 cent mark last week. Well we didn’t have to wait too long as Melbourne’s market on Tuesday did the trick, up by 14 cents to 1713 in a precursor to the rest of the final sale of the year. The market exploded into action on Wednesday as the EMI added a whopping 52 cents to 1765 - an all time record as 18.5 to 20 micron in Sydney posted gains of 100 to 116 cents. This was to be the peak of the market as Thursday’s prices couldn’t be maintained due to the sudden fall in the US$ and appreciation of all major currencies as the US Federal Bank lifted interest rates for the 3rd time this year on Wednesday night as buyers used the FRX to their advantage on Thursday to soften the market. As the table above shows, the gains across all microns was significant - 17s now an incredible 1008 cents higher than 12 months ago.

The buying frenzy wasn’t only restricted to the fleece room as price gains ranged from 60 to 90 cents for all types of skirtings regardless of micron, style or VM.  A Line of PCS from Cunnamulla - 18.8mic, 6% VM - made 1087 cents as just 19 bales (1%) failed to sell. The records continue to tumble for the carding sector as the 3 centres averaged a 47 cent jump to sit at 1470 to 1498. Melbourne and Fremantle did break through the 1500 cent mark on Wednesday but came off the boil in the final session. It was almost a total clearance for oddments, 8 bales passed-in clearing 99.5% of this sector, 353 cents to the good compared to this time last year. Crossbreds also added to their previous values, finer microns (25/26s) up by 40 to 50 cents while 28 to 30 micron gained 15 to 20 cents as broader types were in buyers’ favour.

A great sale for the lucky growers who sold wool as the bidding was “frenzied” from the outset for all types as the impending 3 week recess and intense demand forced some to buy “regardless of price”.  All MPGs for 16.5 to 22 micron were at record levels on Wednesday since AWEX began in 1995. For the calendar year the EMI has climbed a whopping 405 cents (30%) the biggest yearly rise since 2002, the 3rd year-on-year rise totaling 700 cents. The value of wool sold (Jan to Dec) topped the $3 billion mark for the 1st time since AWEX records began 22 years ago. We now enter a 3 week recess with wool sales to recommence on 9th January.

Ag Concepts Fwd Prices at 15 December 2017

Micron

Date

Low

High

21

28-Mar-18

1680

1680

21

9-May-18

1630

1630

21

27-Jun-18

1573

1650

21

13-Feb-19

1500

1500

Main Buyers (this week)

Fox & Lillie

7076   

Techwool

6969   

Australian Merino

3910   

Endeavour Wool

3752   

PJ Morris

3169   

Kathaytex (Vic)

2782   

Michell Aust.

2614   

  8   

Seatech Ind.

2342   

Kathaytex (Aust)

2274   

Eastern Market Indicators (AUD cents/kg clean)

1760 cents é 61 cents compared with 08/12/2017

Northern Market Indicators (AUD cents/kg clean)

1841 cents é 59 cents compared with 08/12/2017

AUD/USD Currency Exchange

0.7670 é 0.0120 compared with 08/12/2017

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