WEEKLY MARKET REPORT Week Ending 15th February, 2019 AWEX Northern Micron Indices Comparison
CROSSBREDS BREAK NEW GROUND!
The gradual increases continued this week as the AWEX EMI ascended by 24 cents to 1968. This rise saw the Sydney indicator break through the 2000 cent mark to finish the series at 2011. This week’s rise was the 7th straight sale that the EMI has moved higher, adding 107 cents since sales resumed in January. The medium microns (19 to 22s) were the notable performers, gaining 10 to 25 cents while the sub 18.5s added 5 to 10 cents. The stable FRX helped the market as the EMI in US$ terms lifted by 21 cents to 1401. Skirtings had an excellent sale as all types were quoted 30 to 50 cents higher. The 3 week run of falls was halted in the carding sector as rises of 15/20 cents for STN/CRT and 30 to 40 cents for LKS had the 3 regional MCIs average 25 cent gains. The highlight of the sale was the record breaking crossbred sector as gains of up to 50 cents has the 28 and 30 micron indicators in an all time record territory at 1080 (1103 in Melbourne) and 928 respectively. Recording of these indicators goes back to the days of the AWC market reporting that commenced in 1979, 40 years ago. Melbourne hosted a “Tasmanian origin” sale this series the largest weekly offering of wool from the Apple Isle for 2 years. The superior selection was met with strong competition dominated by Italy to see some lots up to 150 cents higher than their indicators but still have the MPGs in Melbourne < 18.5 averaging 44 cents lower than Sydney. On the flipside of quantity, Sydney’s fleece offering on Thursday was the smallest in 12 months and the weekly total is the least in 5 years as national yearly offerings are 179,000 bales (14.8%) lower than last season. Even though global wool supply is expected to decline by 12% this season, most mills are reportedly looking to restocking greasy wool for the Autumn/Winter Northern Hemisphere season. Global events that were thought to have an adverse effect on prices have not yet impacted as textile and apparel goods exported from China had a 3.5% increase in 2018. Retail figures from the US show the worst consolidated sales in 10 years for clothing - a worrying stat as 14% of our wool ends up in the US. Will the market rise for the 8th straight week? Time will tell! Ag Concepts Fwd Prices as at 15 February 2019
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Main Buyers (This Week)
|
Comments
Post has no comments.