Weekly Market Reports


24 June 2011

admin Macwool - Friday, June 24, 2011

WEEKLY MARKET REPORT

Week Ending 24th June 2011

Northern Micron Indices Comparison: Source of information: AWEX

AWEX
INDEX

This Week
24/06/11

Last Week
17/06/11

Change

Last Year
24/06/10

Yearly
Change

17

2366n (M)

2352n (M)

+14

1259

+1107

18

2066n

2073n

-7

1173

+893

19

1751

1769

-18

1073

+678

20

1588

1575

+13

956

+632

21

1522

1514

+8

935

+587

22

1461

1458

+3

922

+539

23

1324n

1318n

+6

898

+426

26

899n (M)

896 (M)

+3

626

+273

28

706n

692n (M)

+14

475

+231

30

644n

628 (M)

+16

419

+225

32

590n

581 (M)

+9

369

+221

MC

831

812

+19

644

+187

A TOUCH HIGHER AGAIN

The market rose fractionally again to defy most pundits’ predictions of a softer trend. A 6 cent rise in Sydney and Melbourne equated to a 5 cent rise for the EMI to 1,436 cents. The market split in two directions as 19.5 and finer fell up to 18 cents while the broader types from 20 microns out continued their great run to add 5 to 15 cents. The rise of 6 cents in Sydney did surprise us as only very few FNF lots seemed to hold their ground on the opening day, with burrier fleece lots looking cheaper. Although AWEX could not find any cheaper lots in their quotes and left all indicators unchanged, bar 22s - up 1 cent and 18s back 9! The second day saw most movements as falls of 7 to 18 cents for 19 and 19.5 were negated by good increases for middle micron lots. The market in Melbourne was even more erratic as an excellent selection of sub 17 micron types saw an 88 cent rise for 16.5s with 18.5 dropping 29 cents. Their indicators moved in two directions as finer lots under 18 lifted; 18.5 to 19.5 fell 15 to 25 cents; with 20s and broader gaining up to 20 cents.

Skirtings also tracked the fleece room’s direction as the better style and good colour lots under 4% vm were keenly sought after and increased in value to the tune of 20 cents. The burrier pieces and bellies carrying over 8% vm tended to sell in buyers’ favour with the odd lot dearer that contained little cott, jowl and colour. Once again, the small selection that did contain heavy cott and jowl were discounted again with only very little interest in these lots. Cardings posted solid gains for the third week in a row. Locks and stains recorded 20 cent rises while crutchings were quoted up by 10 cents. The MCI has now added 89 cents in the past four weeks after hitting a low of 742 cents in late May - a great recovery! Crossbreds also added to their values with an average rise of 13 cents. The sudden drop off in supply over the past few weeks has certainly helped their cause.

For the second week in a row, Don Macdonald & Co. has dominated offerings in Sydney. After having the second biggest catalogue last week behind Landmark, this week’s 1462 bale catalogue was the largest, a great achievement since our first sale in early May. The market, despite talk of a cheaper trend and Chinese bids at 20 to 30 cents below the market, continues to break records. This week’s 22,000 bale national offering is the smallest two centre sale in 2 years with the last three weeks averaging just 23,600 across the country. Fremantle sells again next week with the last sale of the financial year to be held followed by two sales in the first two weeks of July before the three week recess with national offerings to average 33,000 bales. With futures trading higher (coupled with small quantities) it’s hard to see the market not remaining at these levels or, dare we say, even better.                   

AgRisk FDIC Indicative Quotes 17/06/11,

20

21

22

AUCTION

1575.0

1521.5

1457.0

Aug-11

1473

1434

1368

Oct-11

1398

1359

1293

Dec-11

1374

1335

1269

Feb-12

1350

1311

1245

Apr-12

1318

1279

1213

Jun-12

1280

1241

1175

Aug-12

1270

1231

1165

Oct-12

1237

1198

1132

MAJOR AUCTION BUYERS (Bales)

1

Techwool Trading

3448

2

Fox & Lillie

2051

3

Lempriere (Aust)

1710

4

AS Gedge

1218

5

Viterra Wool

1183

6

Queensland Cotton

1176

7

Chinatex (Aust)

906

8

Victoria Wool Processors

616

9

Williams Wool

472

                                 
         Eastern Market Indicators
(AUD cents/kg clean)                              AUD/USD Currency Exchange

         Eastern 1436 cents (é3) compared with 17/06/11                              1.0548 ê 0.0026 compared with 10/06/11

        Northern Market Indicators (AUD cents/kg clean)

         Northern 1491 cents (é3) compared with 17/06/11

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