WEEKLY MARKET REPORT 

Week Ending 20th September, 2019

 AWEX Northern Micron Indices Comparison

WELL DONE SHARPY – A GREAT ACHIEVEMENT!!

A great milestone was achieved this week as Ian Sharp clocked up 50 years in the wool trade. It was on the 18^th September, 1969, that he commenced with Winchombe-Carson as a junior valuer then went to CPS then onto Elders in 1973 till 2011 when he joined Macwool. It is an achievement to be able to work for half a century but to work in the one industry for your whole career and witness how the wool industry has evolved over that time and the life-long friendships that he has forged is testament to the respect and high regard in which he is held in the wool industry. Well done and here’s to many more years in the trade.

On to the market: Things panned out as most people had hoped. After last week’s massive hikes that left Melbourne and Fremantle well ahead of Sydney as they forged higher on the final day of sales (as we only sold on the first day), to have the 3 centres’ prices aligned more closely this week was a good result. With our rise and Melbourne’s fall the EMI added 7 cents to 1542 and most microns rose here by 35 to 60 cents. In the south, < 18 lifted by 10 to 40 while > 18.5 lost 25 to 50 cents. Skirtings kept improving as all types jumped by 50 to 70 cents with cardings to the good by 30 to 40 cents. Crossbreds had a mixed sale as opening day losses were nearly cancelled out by a final day’s rally to have 28s and finer up to 30 dearer and broader types 20/30 cheaper.

We are in the peak season for ram sales with studs holding their sales through to the end of October. A few to report on from the past week include: Haddon Rig at Warren clearing 94% of their draft with a top of $6,500 to average $2410; Gullengamble at Yeoval sold 97% with 2 rams selling for $5,500 with an average of $2245; the newly formed Towonga stud at Peak Hill averaged $1910 with a top price of $4,500 to clear 84% at their opening sale; Parkdale at Dubbo had a top price of $3,500 to average $1,515; Weealla at Gilgandra sold all rams on offer to a top of$3,250 (2) to average $1,350; and Merryville at Boorowa sold 75% with 3 rams topping at $5,000 to average $2,125. Good results given the ongoing drought and the number of ewes to join far less than last year.

The Nanjing Wool Conference is currently being held in Shandong, China. The success or failure of this gathering will determine the immediate price direction of the market but one buyer reported selling 90% of this week’s purchases yesterday so next sale should be rock solid.

          Ag Concepts Fwd Prices as at 20th September, 2019       

Main Buyers (This Week)