Weekly Market Reports


17 June 2011

admin Macwool - Friday, June 17, 2011

WEEKLY MARKET REPORT

Week Ending 17th June 2011

Northern Micron Indices Comparison: Source of information: AWEX

AWEX
INDEX

This Week
17/06/11

Last Week
10/06/11

Change

Last Year
17/06/10

Yearly
Change

18

2073n

2078n

-5

1172

+901

19

1769

1767

+2

1083

+686

20

1575

1568

+7

963

+612

21

1514

1498

+16

946

+568

22

1458

1446n

+12

924

+534

23

1318n

1314n

+4

897

+421

26

896 (M)

875n (M)

+21

630

+266

28

692n (M)

673 (M)

+19

480

+478

30

628 (M)

611 (M)

+17

430

+198

32

581 (M)

560 (M)

+21

375

+206

MC

812

770

+42

634

+178

A GOOD MARKET, BUT HAS IT PEAKED?

A modest lift of 11 cents to see the AWEX   EMI finish the week at 1,431 cents was another great result for the wool market. Even with Fremantle selling this week , their catalogue of only 4,600 bales (with a national total of just 26,000 bales) this was the smallest  three centre  sale ever recorded in AWEX’s history stretching back to July, 1995. With the 2 daily increases this week, that bought the consecutive daily rises to 13, also an AWEX record. It was a market that was split in two as 19 to 23 micron put on 5 to 20 cents on the  opening day only to keep falling early on Thursday then recover some lost ground late on the final day. Just two categories managed double digit rises for the week - 21s up 16 and 22s were 12 cents dearer. The other middle micron indicators of 19 to 20 and 23 added up to 7 cents. As has been the case for a few weeks now, finer lots struggled to find any direction with the better style lots dearer and poorer style lots pushing these indicators down 5 to 10 cents. With this week’s subtle rises some MPGs are at record or near record levels. The 22 micron indicator at an average of 1,456 has never been higher, overtaking the 1988 record. 23s are also closing in on a record now at 1,318 cents - just 20 cents from their spike of 2002.  Finer microns, even at these good levels, are still a long way from their peaks of 1988.

Skirtings also had a mixed week with the better style lots (containing little vm) up to 8% lifting 10 to 20 cents on the opening day with lots containing colour and cott and higher degrees of burr irregular on the final day. Cardings continued their recovery as the MCI broke through the 800 cent barrier (812 cents, up 42), again as all descriptions bar heavy vm (15%>) added around 40 cents to last week’s values. Crossbreds improved along with most sectors of the market as all types and microns were around 20 cents to the good by the end of the week. This was a great result for one of our crossbred growers who had accumulated over 200 bales over the past few years and sold every bale with a100% clearance of all our crossbred wool on offer - an achievement that is rare in any section of the catalogue.

Even with the market rising, buyers were very cautious about any further improvements in the short term. Viterra, who have made a habit of finishing in the top three buyers week in week out, did not buy a bale of fleece on Thursday, citing plenty of stock in the pipeline as the reason for not buying. This stock reportedly, offered out to processors at 20 to 30 cents under current rates was not booked up, thus hinting at a correction over the next few weeks. Even with national totals under 30,000 bales for the next three weeks this lack of wool may not be enough to stop a correction.

AgRisk FDIC Indicative Quotes 17/06/11

20

21

22

AUCTION

1575.0

1521.5

1457.0

Aug-11

1473

1434

1368

Oct-11

1398

1359

1293

Dec-11

1374

1335

1269

Feb-12

1350

1311

1245

Apr-12

1318

1279

1213

Jun-12

1280

1241

1175

Aug-12

1270

1231

1165

Oct-12

1237

1198

1132

MAJOR AUCTION BUYERS (Bales)

1

Techwool Trading

2495

2

Lempriere (Aust)

2406

3

Fox & Lillie

2262

4

Viterra Wool

1424

5

Queensland Cotton

1377

6

Chinatex (Aust)

1244

7

Modiano (Aust)

940

8

West Coast Wools

756

9

AS Gedge

718

                Eastern Market Indicators (AUD cents/kg clean)                                               AUD/USD Currency Exchange

                Eastern 1431 cents (é11) compared with 10/06/11                                                1.0574 ê 0.0060 compared with 10/06/11

                Northern Market Indicators (AUD cents/kg clean)

                Northern 1485 cents (é10) compared with 10/06/11

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