Weekly Market Reports


20 April 2012

admin Macwool - Friday, April 20, 2012

WEEKLY MARKET REPORT

Week Ending 20th April, 2012

Northern Micron Indices Comparison: Source of information: AWEX

AWEX
INDEX
This Week
20/04/12
Last Sale
06/04/12
 Change  Last Year
21/04/11
Yearly
Change
17 1606n 1676 -70 2418 -812
18 1454 1495 -41 2038 -584
19 1374 1405 -31 1617 -243
20 1329 1356 -27 1370 -41
21 1308 1333 -25 1284 +24
22 1274n 1301 -27 1255 +19
23 1232n 1260 -28 1220 +12
28 648 648 0 659 -11
30 581 583 -2 592 -11
32 513n 511 +2 571 -58
MC 733 743 -10 817 -84

                                                                                                                                                                                                                                               

STILL FALLING BUT AT THE BOTTOM??

The build-up of wool due to last week’s Easter recess and the on-going sour sentiment led to big falls at this sale’s resumption. This week’s national offering of 55,000 bales, the second largest since mid January, and the fourth biggest this season, seemed too much to handle for the trade as talk of a fall was rife on the show-floor well before a lot was offered. This sale is the fourth in a row that has the market retreating with losses totaling 74 cents for the EMI. Losses were across the board as 18.5 and finer attracted the greatest falls (from 40 to 70 cents), while the medium to broad types gave up 25 to 30 cents from the pre-Easter close. It seemed no type or micron was immune from falling as discounts came to the fore for high VM, cott and colour and even the odd lot attracting token bids. The odd indicator in Melbourne, 19.5 and 23s did buck the negative trend finishing in sellers’ favour, this being the only bit of good news from the fleece sector as most of their indicators lost 10 to 35 cents with 16.5 to17s back by 60 cents - their largest decline since December.

Skirtings mirrored the movements of the fleece sector as sharp falls early in the sale did abate some-what as the week progressed. A 50 to 60 cent reduction with emphasis on 6 to 8 % VM was the order of the opening day with yet again cotty, colour and lots with jowl attracting heavy discounts and token bids. Thursday saw low VM types (<4%) remain unchanged as the burrier lots lost another 20 cents. Some of these types looked about 100 cents cheaper than before Easter resulting in a pass-in rate of 27% for the skirtings nationally, the highest in 31/2 years. Merino Cardings lost some ground as the MCI fell 10 cents to 733 cents. Locks lost 15 to 25 cents while stains fell 10 cents with crutchings unchanged for the week. Crossbreds had a reasonable week as minor movements each way of up to 5 cents left most types unchanged, this sector made up only 14% of the national catalogue, down from totals averaging in the low to mid 20% ranges earlier in the year.

Just a note about a field day to be held next week at Leadville. As the attachment reads, a demonstration on EIDs will be held. Andrew Mill’s phone no. is on the flyer to register if attending. Finally, in “The Land” an article about the woolstore opening and fashion parade. Plenty of good photos, obviously taken before the disco cranked up! We are still getting Thank You notes from clients who enjoyed the night. National offerings are reduced dramatically for the next three weeks to average around 43,000 bales. Whether this is enough incentive to lure buyers back into the market, who knows?  Yesterday’s slightly dearer markets in Sydney and Fremantle may give hope to a solid market with a “little bit of business” done overnight according to a few buyers, but plenty of enquiry 20 to 30 cents lower than the market. Macwool sells on Tuesday, offering 616 bales.      

   

 

 

Ag Concepts forward price trades W/E April 20

MPG

Maturity

High

Low

20

Jun-12

1315

1315

21

Oct-12

1270

1265

21

Dec-12

1260

1240

21

Feb-13

1230

1230

21

May-13

1195

1195

 

                     

1 Viterra Wool 6079 2 Techwool Trading 4407 3 Fox & Lillie 4198
4 QLD Cotton 3298 5 Lempriere (Aust) 2780 6 Williams Wool 2700
7 Chinatex (Aust.) 2117 8 Modiano (Aust) 2108 9 PJ Morris 1826

                       

 

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

                Eastern 1165 cents ê 26cents compared with 06/04/12                            1.0358 é 0.0075 compared with 06/04/12

            Northern Market Indicators (AUD cents/kg clean)

                Northern 1194 cents ê 34cents compared with 06/04/12

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