Weekly Market Reports


22 June 2018

admin Macwool - Friday, June 22, 2018

WEEKLY MARKET REPORT

Week Ending 22nd June, 2018

 

AWEX Northern Micron Indices Comparison

AWEX INDEX

This Week

S51/17

This Week

M51/17

Last Sale

S50/17

Sydney Change

Last Year

Sydney

Sydney Yearly Change

17

2869n

2903

2857

+12

1534

+1335

18

2538

2558

2509

+29

1512

+1026

19

2374

2379

2280

+94

1476

+898

20

2356

2363

2261

+95

1420

+936

21

2324

2344

2259n

+65

1398

+926

22

-

2340n

2246n

+98 (M)

1379n

+961 (M)

26

1545

1536n

1494n (M)

+51 (M)

1100n (M)

+445 (M)

28

1052

1048

1003 (M)

+49 (M)

786

+266

30

709

699n

695 (M)

+14 (M)

703n

+6

MC

1495

1513n

1474n

+21

1084

+411

 

 

MARKET CONTINUES TO SURGE!

Once again the Australian wool market has headed into new territory - uncharted and unpredicted.

As Fremantle took another rest Sydney and Melbourne could only pull together and supply just under 21,000 bales this week to the auction; the smallest offering in 9 years. This, along with the Aussie dollar were the two main reasons for this weeks increase.

This market, the second last of 2017/2018 selling season finished in an extremely strong and positive position.

The EMI has risen by 52 to sit at 2073. The buyers flew out of the blocks on Wednesday, the EMI gained 42 firming up with another positive 10 on Thursday. The Australian dollar had a big impact as it dropped 2 cents compared to the previous week to sit comfortably between 0.736 and 0.739 over the two selling days.

Lack of supply was a big factor again this week, especially wools between 18 to 22 micron, which ended with an average increase of 80 cents. On the finer and ultra-fine end, 17.5 micron and below did not have as much of an increase due to a mixed quality section, still gaining a minimum of 13 cents. Crossbreds pushed ahead, the 26 to 28 microns especially into record territory averaging a 30 cent increase.

Merino cardings gained a solid 20 to 30 cents, seeing Melbourne step back over the 1500 mark to 1513, and Sydney sitting just 5 away at 1495.

Unfortunately, as most areas still wait for rain, sheep numbers keep pouring through the saleyards. Could 21 to 25 thousand bales a week be the national average in 6 months time and into the next couple of years?

As buyers scramble to find wool to keep their mills running overseas and with talk of new mills opening in China, who knows where the value of our quality product could peak?

Either way the wool market looks positive for the Australian wool grower.

Next week with Freemantle back online the three centres will be offering just over 33,000 bales.

Macdonald and Company Wool Brokers will be offering just over 900 bales on Wednesday the 27th June.

Looking forward to it. Will the EMI hit 2100? 

 

Ag Concepts Fwd Prices as at 22nd June, 2018

 

Micron

Date

Low

High

Micron

Date

Low

High

18

12 Dec 18

2255

2255

19

8 Aug 18

2200

2200

21

29 Aug 18

2021

2100

22

26 Sep 18

2050

2050

 

Main Buyers (this week)

1

Techwool 

3301

2

Fox & Lillie

2991

3

Tianyu  Wool

2430

4

Seatech Ind.

1424

5

Kathaytex 

1285

6

Michell Wool

1233

7

Aust. Merino

1226

8

Endeavour Wool

1079

9

VIC Wool

672

 

Eastern Market Indicators (AUD cents/kg clean)

2073 cents é 10 cents compared with20/6/2018

Northern Market Indicators (AUD cents/kg clean)

2110 cents é 14 cents compared with 20/6/2018

 

AUD/USD Currency Exchange

0.736 ê 0.0031 compared with 20/6/2018

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