Weekly Market Reports


23 August 2019

admin Macwool - Friday, August 23, 2019

 WEEKLY MARKET REPORT 

Week Ending 23rd August, 2019

 AWEX Northern Micron Indices Comparison

AWEX INDEX

This Week

S08/19

This Week

M08/19

Last Sale

S07/19

Sydney

Change

Last Year

Sydney

Sydney Yearly

Change

17

1952

1923

2000

-48

2917

-965

18

1888

1860

1932

-44

2617

-729

19

1728

1734

1766

-38

2393

-665

20

1683

1681

1711

-28

2303

-620

21 1667n 1675 1695n -28 2280 -613
26 - 1148n 1150n - 1538n (M) -390 (M)

28

870n

855

835n

+35

930n

-60

30

710n

701

743 (M)

+42 (M)

711 (M)

-10 (M)

MC

895n

930n

993

-98

1526

-631

MARKET STEADIES!

All participants were still in shock from last series’ falls and wondering what this week would bring. Showfloor chatter amongst the buyers that some business had been done on a variety of types just below current levels gave hope that the market may level out sooner rather than later. The AWEX EMI lost just 16 cents but did fall below the 1500 cent mark to 1497 - this result welcomed as good news after last week’s carnage. Fine microns bore the brunt of losses, < 19 micron 40/50 cents with broader types 20 to 30 cheaper with the odd superior style wool and NM type dearer. One sector that did advance was skirtings, 40 to 50 cents higher, just 10% passed-in. Crossbreds also reversed last sale’s collapse adding 25 to 45 cents. Cardings took the largest hit of any sector with the 2 MCIs on the east coast averaging 94 cent losses as LKS/LMS lost 100 to 200 cents while CRT/STN gave up 50 to 60 cents. The overall pass-in rate fell to 16%, a drop of 20% compared to the previous sale with 16% also withdrawn resulting in a third of the wool available at the start of the sale not sold.

This week’s sentiment was vastly improved when compared to the fortnight before, with a very cautious tone. The demand for wool has fallen sharply due to lack of confidence and partly to blame is the devaluation of the Chinese Yuan (CNY). One US$ buys over 7 yuan compared to 6.8 yuan in July. All the other external problems in the Northern Hemisphere are still well and truly in play and this week Germany announced that its economy is slowing as is Britain’s (they’re yet to admit it). Trouble is also brewing in SA as wool sales have been suspended indefinitely as frustrations re the requirements of current export certification of greasy wool into China were conveyed and the ensuing implications for buyers and growers. Auctions will resume ASAP when clarity is obtained regarding export certification requirements of greasy wool into China.

We still have spots available if you want to attend the Sheep Welfare Seminar on Tuesday. Please reply to the office by Monday on 6884 1004 or email admin@macwool.com.au.

Ag Concepts Fwd Prices as at 23 August, 2019

Micron

Date

Low

High

21

25-Sep-19

1660

1680

21

13-Nov-19

1650

1650


Free knitted woollen jumpers for poddy lambs. Call into our office in Dubbo or Macdonald Rural at Brewarrina and take as many as you need. Many colours and styles to choose from!

Main Buyers (This Week)

1

Tianyu Wool

2588

2

Fox & Lillie

2533

3

Aust. Merino

2515

4

Techwool

2330

5

Endeavour Wool

1985

6

G Schneider

1235

Eastern Market Indicators (AUD cents/kg clean)

1497 cents ê 16 cents compared with 16/08/2019

Northern Market Indicators (AUD cents/kg clean)

1521 cents ê 17 cent compared with 16/08/2019

   AUD/USD Currency Exchange

0.6783 ê 0.0001 compared with 16/08/2019

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