Weekly Market Reports


16 September 2016

admin Macwool - Friday, September 16, 2016

WEEKLY MARKET REPORT

Week Ending 16th September, 2016

 AWEX Northern Micron Indices Comparison

AWEX INDEX

This Week

S11/16

This Week

M11/16

Last Sale

S10/16

Sydney

Change

Last Year

Sydney

Sydney Yearly

Change

17

1605

1579

1593

+12

1474

+131

18

1580

1555

1561

+19

1459

+121

19

1517

1511

1498

+19

1393

+124

20

1452

1440

1460

-8

1336

+116

21

1438

1426

1445

-7

1320

+118

22

1416n

1411

1436n

-20

1304n

+112

26

1175n

1169n

1167n

+8

1136n

+39

28

788

774

771

+17

948

-160

30

625

632n

619n

+6

897

-272

MC

1053

1038

1049

+4

1089

-36

MARKET RISES BUT UNCERTAINTY AHEAD

Outside influences played havoc with this week’s market as it seemed to move in all directions. By week’s end the market had posted a 6 cent rise for the EMI to 1311. In US$ terms the shift was much more dramatic - down 24 cents to 979 - this due to the sudden fall in the exchange rate from a high of 77.2 last Thursday to under 74.5 last night. The market opened with a bang as finer microns led the charge only to lose ground in the final session despite the currency staying around 74.5 cents except for Wednesday night, peaking at 76.20. 19 micron and finer did finish in positive territory, up by 10 to 25 cents while 20 and broader fell 10 to 20 cents.

Skirtings also benefitted from the swings in the currency. All types and descriptions regardless of VM were pushed up by 25 to 30 cents as bidding was ramped up. Crossbreds followed the pattern of merino fleece types but still ended in sellers’ favour by 5 to 15 cents.  The carding sector had the quietest sale as price movements were marginal, up to 5 cents higher than the previous week.

A wild week for global stocks as the Dow dropped by 400 points last Friday night following comments that interest rates in the US are more than likely on the way up sooner rather than later. This sent the US$ skyrocketing and most other currencies falling as the trend of the big movements on global markets kept going all week putting a high degree of uncertainty and apprehension for the next few weeks for all commodities including wool.

Ram sales and bull sales continue on and reading “The Land” lots of headlines contain the word “Record” - a reflection of the increased demand and great season. A few results from the past week include:  Haddon Rig, celebrating 100 years of Falkiner family guardianship of this historic stud, had a total clearance for a top price of $11,000 to average $2,650, up $300 on last year’s average; Merryville topped out at $5,500 to average $1,885 and the record set by Kerin Poll last week was broken by Yarrawonga at Harden clearing all 200 rams to average $3,800 grossing an incredible $760,000. On the meat-sheep side Ashbank at Dubbo cleared all Poll Dorset and White Suffolk rams to average $1,700 with a top of $2,600, while Narranmore at Elong sold 100% to top at $3,300 to average $1,370. 42,000 bales are on offer next week with Macwool offering on Thursday. It’s hard to guess the market’s direction.

Ag Concepts Fwd Prices at 16 September 2016

Micron

Date

Low

High

Micron

Date

Low

High

21

26-Oct-16

1450

1450

21

11-Jan-17

1400

1400

19

23-Nov-16

1500

1500

21

10-May-17

1400

1400

 

Main Buyers (This Week) 

1

Techwool

5251

2

Lempriere (Aust)

3618

3

Fox & Lillie

3225

4

Chinatex

3204

5

PJ Morris

2573

6

Tianyu Wool

2359

7

Aust. Merino Exp

2537

8

Modiano

1606

9

New England Wool

607

 

Eastern Market Indicators (AUD cents/kg clean)

1311 cents é 6 cent compared with 9/09/2016

Northern Market Indicators (AUD cents/kg clean)

1340 cents é 10 cents compared with 9/09/2016

AUD/USD Currency Exchange

0.7464 ê 0.0216  compared with 9/09/2016

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