WEEKLY MARKET REPORT
Week Ending 15th June, 2018
AWEX Northern Micron
Indices Comparison
AWEX INDEX |
This Week S50/17 |
This Week M50/17 |
Last Sale S49/17 |
Sydney Change |
Last Year Sydney |
Sydney Yearly Change |
17 |
2857 |
2821 |
2863n |
-6 |
2197n |
+660 |
18 |
2509 |
2491 |
2519 |
-10 |
2123 |
+386 |
19 |
2280 |
2286 |
2271 |
+9 |
1870 |
+410 |
20 |
2261 |
2277 |
2256 |
+5 |
1638 |
+623 |
21 |
2259n |
2272 |
2254 |
+5 |
1554 |
+705 |
22 |
2246n |
2270n |
2231n |
+15 |
1485n |
+761 |
26 |
- |
1494n |
1491n |
- |
1109n |
+385 (M) |
28 |
- |
1003 |
1020n |
- |
767n |
+263 (M) |
30 |
- |
695 |
700n |
- |
- |
- |
MC |
1474n |
1475n |
1479n |
-5 |
1181 |
+293 |
WOOL MARKET PEAKED – NO !
It seemed last week that our market had peaked, but
spurred along by insistent demand from China and curbed supply from how sheep
numbers of Australia’s Woolgrowers are again feeling the benefits of the
resurgence in wool.
This week’s market finished in a positive territory
after loosing ground last week. The EMI rose by 10c to 2021c. The main push was
in the 19.5-22.5 microns which rose by 10 to 40c while 18.5 micron and finer
had falls of 5 to 30c. Interesting to hear a comment made to me by an exporter
this week that the market we now have is driven by demand from mills and not by
our short supply, the key driver of course is China who import close to 80% of
our clip.
The skirting sector was similar to the fleece in that
19 micron and finer lost ground by 20 to 40c, lots with 4% vegetable matter and
greater were most affected. The broader types rose by 10 to 20c.
Carding wools rose by 4c for the week and Crossbreds
improved with mixed results. 27 micron improved while 28 to 30 micron eased
slightly. Crossbred lambs wool was again sought after by the trade.
This week saw $58.45 million spent on wool purchases
and so far this season we have seen a $3.32b spent, which is a far cry from
1998 when prices hit a low average of $5.10/kg, which was well below cost of
production.
We have been hearing from the exporting trade that
certain Chinese mills are wanting more wool that is 110-115mm long, because
they cannot get enough due to the fact that many wool producers shore early to
cash in on the market and some are shearing at 6 and 8 months. These longer
wools are used in the worsted section with their end use being apparel or
fabric. Most of the combing wools we see on the show floor now are measuring
60-90mm.
So next week we see only Sydney and Melbourne selling
with approximately 21,326 bales on offer – the smallest offering of the year.
Macdonald and Co will, on Thursday the 21st June offer 1688 bales.
Can we maintain these levels or go higher? Stay tuned.
Ag
Concepts Fwd Prices as at 15th June, 2018
Micron |
Date |
Low |
High |
Micron |
Date |
Low |
High |
18 |
12 Dec 18 |
2255 |
2255 |
19 |
8 Aug 18 |
2200 |
2200 |
21 |
29 Aug 18 |
2021 |
2100 |
22 |
26 Sep 18 |
2050 |
2050 |
Main
Buyers (this week)
1 |
Fox & Lillie |
3298 |
2 |
Techwool |
2761 |
3 |
Seatech Ind. |
2530 |
4 |
Tianyu |
2318 |
5 |
Michell Wool |
1555 |
6 |
Modiano |
1472 |
7 |
United Wool Co. |
1220 |
8 |
Endeavour Wool |
929 |
9 |
Kathaytex |
916 |
Eastern Market
Indicators (AUD cents/kg clean) 2021 cents é 10 cents compared with 7/6/2018 |
Northern Market
Indicators (AUD cents/kg clean) 2059 cents é 2 cents compared with 7/6/2018 |
AUD/USD Currency
Exchange 0.765 ê 0.0016 compared with 6/6/2018 |
Comments
Post has no comments.