Weekly Market Reports


2 October 2015

admin Macwool - Friday, October 02, 2015

WEEKLY MARKET REPORT

Week Ending 2nd October, 2015

 AWEX Northern Micron Indices Comparison

 

AWEX INDEX

This Week

S14/15

This Week

M14/15

Last Sale

S13/15

Sydney

Change

Last Year

Sydney

Sydney Yearly

Change

17

1452

1437

1464

-12

1263

+189

18

1424

1409

1428

-4

1237

+187

19

1337

1331

1346

-9

1193

+144

20

1268

1269

1278

-10

1155

+113

21

1259

1263

1265

-6

1146

+113

22

1253n

1251

1257

-4

1128n

+125

26

1130n

1099n

1138n

-8

820

+310

28

887

891

910

-23

684

+203

30

854

847

875

-21

660

+194

MC

1095

1093n

1099

-4

777

+318

STILL NO BOTTOM!

Another struggling week for the wool market as prices continued to slide downwards. Losses were restricted to a narrow band of 5 to 10 cents for most microns, bar 19.5s losing 20 cents. The only bright spot for fleece types was the super-fine categories that held their ground to inch in sellers’ favour. In US terms the movements were kept to a minimum with a 1 cent fall to 859 cents. We had the unusual patter of selling over 3 days due to the long weekend on the eastern seaboard, today in Victoria and us on Monday. Melbourne opened proceedings on Tuesday with moderate falls across the board followed by all 3 centres selling on Wednesday - again the market losing ground. Thursday saw Sydney offering in isolation with most buyers keen to secure what was on offer (5,700 bales) as all thought the market gained up to 10/15 cents. Surprisingly AWEX reported things a little differently, 19s and finer up by 5 and broader types back by 5 to 10. Who’s right?? We feel the buyers were closer to the mark. A 20 micron lot from Coonamble and 21 micron from Tottenham both with 2% VM  looked 10 to 30 cents better than their indicators with a 110mm, 31nkt, 19.4 lot from Gilgandra right on the money.

Little change in the skirting sector this sale as, surprisingly, the lower VM types <3% drifted by 10 cents due to a style adjustment from last week’s designated super-fine sale. Medium types came under more buyer pressure as the 17 to 19 micron lots with 5% VM and higher lifted by 5 to 10 cents. Cardings couldn’t crack the 1100 cent barrier as the 3 centres saw a softening of prices with the 3 regional indicators all losing 5 to 10 cents. Locks were the main culprit as they lost 5 to 10 cents with stains and crutchings were fully firm when compared to the last sale. Crossbreds were the sector to suffer the biggest losses. Apart from 26s (losing 8 cents) all other indicators gave up 15 to 25 cents. The volume of XB wool is certainly lifting making up 20% of the Sydney selection and 10% in Melbourne. Despite this fall in prices returns are still good. A clip from Purlewaugh, averaged $1090/bale, 27 micron with 1.7% VM.

Another disappointing week as the market drifts lower, now at a point 4 cents behind where the market was in early July - 1217 today, 1221 at sale 2. Only 18.5 and 19 are similar with all other fleece indicators down, while XBs and Cardings are well ahead. All the good rises in sale 6, 7 and 10 are now a distant memory. Since sales resumed in August there’s been an 87 cent movement in the EMI - a peak of 1304 in Sale 7 to 1217 this week. Quantity is not the issue. The Chinese are always worried about big Spring volumes that the market can’t handle. This is not the case this year. The past 4 weeks are 13% back in volume from the same period last year, now 9 sales where the national total has not climbed over 40,000 bales.

Ram sales continue on with an outstanding result coming out of the Riverina. The Wells family from Willandra at Jerilderie has topped sales so far this season with a poll ram making $81,000 to a WA and SA syndicate. The sale averaged $3,660 for 85 rams sold. Closer to home, Langdene at Dunedoo topped out at $12,000 to average $2,660 (about $500 higher than last year) to clear 97%. Parkdale SRS sold 67 rams to average $1,415 with a top price of $2,800. Bella Lana stud at Wellington achieved a top price of $2,600 to clear 95% averaging $1,250. Macquarie Dohnes at Warren had a good sale as the average of $1,700 was $600 higher than last year to clear 100% with a top price of $2,800.

We sell next Wednesday, still hopeful that the market is due for a rebound of some sort. Wallabies, Cowboys and Hawks!!

Ag Concepts Fwd Prices at 2 October

Micron

Date

Low

High

28

13-Jan-16

865

865

 

Main Buyers (This Week)

1

Techwool

5164

2

Fox & Lillee

3977

3

Lempriere

3310

4

Chinatex

2835

5

Tianyu Wool

2619

6

Australian Merino

2025

7

G Schneider (Aust)

1868

8

Michell Aust.

1398

9

PJ Morris

1209

 Eastern Market Indicators (AUD cents/kg clean)

1217 cents ê 11 cents compared with 25/09/2015

Northern Market Indicators (AUD cents/kg clean)

1241 cents ê 7 cents compared with 25/09/2015

 AUD/USD Currency Exchange

0.7055 é 0.0054  compared with 258/09/2015

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