WEEKLY MARKET REPORT

Week Ending 24^th February, 2017

AWEX Northern Micron Indices Comparison

things are looking up!

Another good week for the wool market as the EMI consolidated its position in record territory - a 9 cents rise to 1449. The lift in $US terms more sedate - just a 3 cent shift to 1115 as the $AU spent most of the week hovering either side of 77 cents. The pleasing aspect for fleece types was the recovery in the medium microns, 19 to 22 microns were better by 5 to 20 cents erasing last sale’s losses. The finer microns took a bit of a breather as gains were in the 5 to 10 cent range, similar to last sale. Buyers looked to be warming up for the final super-fine designated sale of the season next week as finer lots <19micron with the right specs this week commanded premiums of 40 to 170 cents as a few “cracking” lots from Caloola via Bathurst, Yass and Jerangle via Cooma in our catalogue testify.

Skirtings had a pretty sedate sale as all types and descriptions across all VM ranges were rock solid. Again buyers were picking the eyes out them as the better spec types in the 16/17 micron range looked up to 10 cents higher (probably a guide as to what might happen with the better types next week). Cardings continued on their merry way as the 3 centres averaged 16 cent gains as all types in this sector quoted up to 30 cents higher. The 2 Eastern Seaboard centres carding indicators are at 1190 while Fremantle is 1208. It wasn’t that long ago the EMI was at that level!! Crossbreds again improved as 25/26 and 30 micron finished up to 5 cents dearer while 28 and 32s 10 to 20 higher. Let’s hope this is the start of a swift recovery for the XB sector.

Incredible is the only way to describe the response to our email and Facebook post on agistment for the victims of the Sir Ivan bushfire. As of today our Facebook post had reached 39550 people and has been shared 463 times. There have been many people contact us and stock agent Chris Callow with offers of help and, at this stage, we believe most people have themselves sorted as to the needs of their stock. What they (and most of us) now need is some good steady rain to begin the recovery.

There has been plenty of industry discussion of late about relocating wool sales from Yennora to Goulburn. A group of interested property developers egged on by local politicians have put proposals to all interested parties including ourselves. At this stage it seems unlikely to proceed as it appears a new lease at Yennora for the next five years will be signed by the major players hence sealing the fate the Goulburn proposal.

Next week a smaller offering of 42,000 bales will be offered in three centres.

Ag Concepts Fwd Prices at 24 February 2017

Main Buyers (This Week)