WEEKLY MARKET REPORT
Week Ending 24th August, 2018
AWEX Northern Micron Indices Comparison
AWEX INDEX |
This Week S08/18 |
This Week M08/18 |
Last Sale S07/18 |
Sydney Change |
Last Year Sydney |
Sydney Yearly Change |
17 |
2917 |
2915 |
3007 |
-90 |
2274 |
+643 |
18 |
2617 |
2589 |
2682 |
-65 |
2169 |
+448 |
19 |
2393 |
2386 |
2465 |
-72 |
1862 |
+531 |
20 |
2303 |
2291 |
2376 |
-73 |
1663 |
+640 |
21 |
2280 |
2269 |
2341 |
-61 |
1640n |
+640 |
22 |
2259n |
2265 |
- |
-98 (M) |
1532 (M) |
+733 |
26 |
1489n |
1538n |
1507 |
-18 |
1149n |
+340 |
28 |
930n |
970 |
944 |
-14 |
883n |
+47 |
30 |
- |
711 |
736 (M) |
-25 (M) |
660 (M) |
+51(m) |
MC |
1526 |
1534n |
1515 |
+11 |
1102 |
+424 |
ERRATIC UPS AND DOWNS FRUSTRATE GROWERS
The rapid descent of the market after the vertical rises of the previous sale caught growers and brokers by surprise as no-one was talking of a correction let alone the magnitude of this week’s fall. Quantity was vastly reduced as only the 2 east coast centres were in operation with 29,700 bales on offer and the lift in the FRX wasn’t considered to be a factor in market movements. The Australian Wool Production Forecasting Committee met and has reviewed its forecast for the 2018/2019 season. After considering industry data and seasonal conditions the committee now predicts shorn wool production at 320mkg – a drop of 5.7% since its April forecast. This may force buyers to supply-driven pricing rather than demand-driven expectations. More volatility like the past 2 sales could become commonplace. Some good judges think medium microns, 19s and broader, have conquered their Everest but finer types < 19 micron may still improve; only time will tell. Fremantle rejoins the selling roster next week with just 35,000 bales on offer.
Ag Concepts Fwd Prices as at 24 August, 2018
Micron |
Date |
Low |
High |
21 |
19-Sep-18 |
2280 |
2280 |
Main Buyers (this week)
1 |
Seatech Ind. |
2955 |
2 |
Fox & Lillie |
2650 |
3 |
Techwool |
2455 |
4 |
Aust. Merino |
2227 |
5 |
Kathaytex |
2182 |
6 |
Lempriere |
1618 |
7 |
Tianyu |
1583 |
8 |
PJ Morris Wool |
1361 |
9 |
New Eng. Wool |
1304 |
Eastern Market Indicators (AUD cents/kg clean) 2068cents ê 48 cents compared with 17/8/2018 |
Northern Market Indicators (AUD cents/kg clean) 2117 cents ê 46 cents compared with 17/8/2018 |
AUD/USD Currency Exchange 0.7344 é 0.0082 compared with 17/8/2018 |
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