WEEKLY MARKET REPORT
Week Ending 16th September, 2011
Northern Micron Indices Comparison: Source of information: AWEX
AWEX |
This Week |
Last Week |
Change |
Last Year |
Yearly |
18 |
1785 |
1848 |
-63 |
1224 |
+561 |
19 |
1553 |
1594 |
-41 |
1054 |
+499 |
20 |
1385n |
1429 |
-44 |
909 |
+476 |
21 |
1337n |
1372 |
-35 |
886 |
+451 |
22 |
1273 (M) |
1277 (M) |
-4 |
857 |
+416 |
23 |
1163 (M) |
1175n (M) |
-12 |
837 |
+326 |
24 |
1029 (M) |
1052 (M) |
-23 |
793 |
+236 |
26 |
877 (M) |
857 (M) |
+20 |
606 |
+271 |
28 |
688n |
688 |
0 |
448 |
+240 |
30 |
633n |
634 |
-1 |
399 |
+234 |
32 |
587 (M) |
582n (M) |
+5 |
354 |
+233 |
MC |
751 |
731 |
+20 |
564 |
+187 |
A DISAPPOINTING DROP
What goes up must come down! An unfortunate saying, but one that has rung true for this week’s wool market. After a good rise and the forecast of better things to come the previous week, the market gave up most of last week’s gains despite the superior offering listed for the first Newcastle sale of the season. The Newcastle catalogue was one of the best in years with 76% of the adult fleece selection 40nkt or better and 24% appraised as “spinners” style. A sharp fall in futures late on Monday afternoon set the tone for the week as the market fell progressively over the three days. The excellent types and the falling exchange rate (4 cent fall) could not prevent the sliding trend, with only the spinners and better style lots attracting Italian interests to post 100 cent increases. Apart from these types all other indicators lost 25 to 70 cents. The national offering of over 52,000 bales scheduled for next week seems to have scared some buyers into thinking that there is plenty of wool around, thus no need to rush in and “panic buy”. Just three lots made over 3,000 cents with a top price of 3,270 for a 14.6 micron lot.
The attractive offering of skirtings also commanded good buyer interest as the stylish, low VM lots made significant gains with all other types closing the week where they started. Cardings continued to claw back the August losses to see the MCI add 20 cents to its value to be at 751 cents by the close of trade. The rises were from 15 to 30 cents across the board regardless of style or VM. One carding buyer we spoke to commented on a few lots of crutchings that made over 850 cents greasy, yielding over 70% and FNF going into “open-top” fleece orders and locks being purchased for the same order making over 600 cents; incredible money! The very small but select crossbred catalogue (6.7% of the Newcastle sale, compared with the previous 5 week average of 14.6%) added up to 20 cents to their previous week’s quotes.
A significant week for us here at Don Macdonald & Co as we warmly welcome Ian Sharp on board. Ian will be our Sydney based Technical Manager and Auctioneer as well as area rep looking after clients from Cooma to Bourke. He brings with him 37 years of invaluable experience. His enthusiasm and keenness will rub off on all of us as he comes off his enforced 3 month hiatus. We wish him all the best. This week also marks the start of operations in our new wool-store. We have now relocated 1000 bales to the new site and receivals as from next Thursday will be directed there. The address is Richardson Rd, West Dubbo. Turn off the highway at Metalcorp and it’s the big shed on the left after Sam’s Loos!
AgRisk FDIC Indicative Quotes 09/09/11
20 |
21 |
22 |
|
AUCTION |
1420.5 |
1367.5 |
1286.5 |
Oct-11 |
1394 |
1355 |
1289 |
Dec-11 |
1364 |
1325 |
1259 |
Feb-12 |
1303 |
1264 |
1198 |
Apr-12 |
1258 |
1219 |
1153 |
Jun-12 |
1229 |
1190 |
1124 |
Aug-12 |
1219 |
1180 |
1114 |
Oct-12 |
1187 |
1148 |
1082 |
Dec-12 |
1154 |
1115 |
1049 |
MAJOR AUCTION BUYERS (Bales)
1 |
Viterra Wool |
4893 |
2 |
QLD Cotton |
3966 |
3 |
Williams Wool |
3785 |
4 |
New England Wool |
3365 |
5 |
Fox & Lillie |
3120 |
6 |
Techwool Trading |
2290 |
7 |
G Schneider (Aust) |
2257 |
8 |
Modiano (Aust) |
2022 |
9 |
AS Gedge (Aust) |
1265 |
Eastern Market Indicators (AUD cents/kg clean) AUD/USD Currency Exchange
Eastern 1274 cents (ê20) compared with 09/09/11 1.0211 ê 0.0387 compared with 09/09/11
Northern Market Indicators (AUD cents/kg clean)
Northern 1325 cents (ê19) compared with 09/09/11
Comments
Post has no comments.