Weekly Market Reports


16 March 2018

admin Macwool - Friday, March 16, 2018

WEEKLY MARKET REPORT

Week Ending 16th March, 2018

AWEX Northern Micron Indices Comparison

AWEX INDEX

This Week

S37/17

This Week

M37/17

Last Sale

S36/17

Sydney Change

Last Year

Sydney

Sydney Yearly Change

17

2746n

-

2802

-56

2318

+428

18

2328

2283

2395

-67

2235

+93

19

2027

2026

2085

-58

1944

+83

20

1912

1920

1958

-46

1638

+274

21

1854

1863

1887

-33

1509

+345

22

1823n

1808

1863n

-40

1431n

+392

26

1153

1179

1170

-17

1015

+138

28

804

815

808

-4

756

+48

30

571

563

580

-9

581

-10

MC

1298n

1299n

1319n

-21

1234n

+64

 

30 YEARS AND STILL GOING STRONG!

The wool market continued in the same vein as last sale trending down by another 27 cents to 1751. In US$ terms the step backwards was not as severe, a 13 cent reduction to 1379 as the A$ appreciated 0.75 of a cent to 78 cents. Losses were similar on both days to have all merino fleece MPGs retract by 35 to 70 cents. Buyers became more and more selective in their purchases as high mid-breaks/levels of VM were punished. On the flip-side any lots that fitted the right “specs” (high strength, low VM and mid-breaks) were chased hard and commanded premiums of 30 to 100 cents on the few good lots we had from Goolma, Mudgee, Elong and Coonabarabran. Most growers, despite the drifting prices, took the money as 94% of fleece was sold.

Skirtings also kept pace with their fleece counterparts as losses ranged from 30 cents for fine low VM   types to 50/60 cents for broader burrier types with the ever increasing volume of heavy cott and colour in theses types attracting larger discounts. For the 2nd sale running the MCI lost 20 cents to fall below 1300 cents (1298) LKS being the main culprit peeling off 35 to 50 cents while CRS fell 20 cents and STN were quoted as fully firm. The firming market for XBs got the staggers this sale after 5 weeks of gains, the losses were minimal, 5 to 15 cents for most types, but still in good territory. Since the rises started in early February, 25/28 microns have jumped 110 to 130 cents while the 30s and broader are up to 30 cents better.

This sale’s “drifting”?? market demonstrated the under-current of swelling demand as late in the session the falling prices on several types was arrested to give hope that the sliding market is slowing. The hangover from Chinese New Year, high prices, quality of the selection and finance problems are still weighing on the market.

This week marked a huge milestone for Don. It was on 15th March 1988 his 1st catalogue was offered under the Lanoc Wool banner. The opening fleece lot in that catalogue was “BERRUMBUCKLE” a/c Tony Knight from Coonabarabran. His main line of 20.2 micron, 0.9, 75.7, no L/S test made 1450 cents (1915 cln) type 61. He sold his 2018 clip this week, with a top price of 1890 cents for 17.5 micron hogget wool. He told us that 1 tonne of “single super” fertiliser cost 7.5 fat lambs (today it’s about 3 fat lambs), shearing was $0.88/sheep and a schooner cost $1.20 - those were the days!! Well done to both, a great association and achievement.

Ag Concepts Fwd Prices as at 16 March, 2018

Micron

Date

Low

High

21

18-Apr-18

1820

1850

21

13-Jun-18

1760

1760

 

Main Buyers (this week)

1

Techwool

4750

2

Fox & Lillie

3952

3

Seatech Ind

3019

4

Aust. Merino

3017

5

Endeavour  Wool

2934

6

Lempriere

2717

7

PJ Morris

2389

8

Tianyu

2161

9

Modiano

1921

 

Eastern Market Indicators (AUD cents/kg clean)

1751 cents ê 27 cents compared with 09/03/2018

Northern Market Indicators (AUD cents/kg clean)

1826 cents ê 43 cents compared with 09/03/2018

 

AUD/USD Currency Exchange

0.7876 é 0.0044 compared with 09/03/2018

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