WEEKLY MARKET REPORT

Week Ending 17^th February, 2017

AWEX Northern Micron Indices Comparison

not a great week but we survived!

We were hoping for a solid market and that’s what was delivered. Just a 3 cent rise for the EMI (1440) to eclipse the record set in January. In $US terms a more pronounced 16 cent lift saw it break through the 1100 cent barrier to 1112 - a good result considering the exchange rate lifted by a full cent from last sale. The market virtually moved in 3 directions: higher to start proceedings with a stylish Launceston offering, only to lose these gains on Wednesday before a closing day rally. By week’s end 18 and finer gained 5 to 15 cents, 18.5/19s were in sellers’ favour and 19.5 to 23s lost 10 to 25 cents.

Skirtings opened the sale on a cheaper note, shorter types 10/20 off the pace only to see a final day recovery as 5% to 8% VM lots claw back the 10 to 20 cent losses from the opening day. Cardings had a good sale as the 3 centres averaged an 11 cent rise in their MCI (1171 to 1193), now at all time highs. The most pleasing aspect of the market was the under pressure XB sector. For the first time in nearly 6 months all microns (25 to 32s) posted gains in the order of 10 to 20 cents.

As many of you would be aware it was a tough week to the east of us with the bushfires in the Dunedoo/Coolah/Cassilis area. Something like 54,000 hectares burnt, stock losses, houses, sheds and countless kilometres of fencing. Hot on the heels of the Wellington fire just after New Year it reminds us how close these disasters can be during seasons like this. We have had many clients affected in both these recent events and from both fires we hear lots of stories about the spirit of the communities that chimes in and pulls those in dire need through. Some of the stories coming through from the latest fire are both amazing and inspirational. Amazing that more stock and buildings weren’t lost and inspirational how individuals rose to the occasion and just dug in to get the job done. Several of our long standing clients were both severely affected or on the edge and in the thick of fighting the fire. Our thoughts go to those affected this week and our praise goes to the teams on the ground that achieved so much. Again, if anyone has any agistment available please come forward as there are a lot of stock that need moving to pastures in a hurry. The several offers that have come forward so far have been very generous.

Next week we hope to be just reporting on the wool market where 47,000 bales are to be offered nationally.

 Ag Concepts Fwd Prices at 17 February 2017

Main Buyers (This Week)