WEEKLY MARKET REPORT

Week Ending 18^th March, 2016

AWEX Northern Micron Indices Comparison

 FINALLY, SOME GOOD NEWS!

 There was a turnaround in sentiment this week with the industry yardstick (the AWEX Eastern Market Indicator) closing four cents higher. It was its first gain after seven consecutive daily losses spanning more than three weeks. A catalogue similar to the past fortnight, totalling just below 39,000 bales, opened slowly on Wednesday. It was a staggered start between selling centres and the small Sydney sale initially opened weaker. Enthusiasm increased over the day however with Melbourne firming 5 cents and Fremantle lifting 10 cents late in the day.

It was a mirror image of that pattern on Thursday, however, with a strong start losing momentum over the day. The East coast still managed increases for the day but Fremantle lost ground. The irregularity came on the back of a sharp bounce in the Australian dollar which jumped 1.6 US cents the previous night. Although there were some losses over the two days, the net result still mostly favoured the positive side of the ledger. Prices closed 5 to 10 cents higher when compared with the previous sale with Melbourne receiving the biggest advantage.

A strong start pushed Merino skirtings slightly higher for the week. Crossbreds were mixed; cheaper in Sydney but dearer in Melbourne (despite a weak final day). Cardings also had varied results although the movements compared to the previous week were minimal. Just over 48,000 bales are expected next week, the largest sale since early January and the final sale before the annual one week Easter recess. Macdonald Woolbrokers sell next Wednesday at the Sydney Royal Easter Show with an offering of 1,320 bales.

Ag Concepts Fwd Prices at 18 March

Main Buyers (This Week)