Weekly Market Reports


25 October 2019

admin Macwool - Friday, October 25, 2019

WEEKLY MARKET REPORT 

Week Ending 25th October, 2019

 AWEX Northern Micron Indices Comparison

AWEX INDEX

This Week

S17/19

This Week

M17/19

Last Sale

S16/19

Sydney

Change

Last Year

Sydney

Sydney Yearly

Change

17

1922

1924

1898

+24

2582

-660

18

1865

1873

1850

+15

2397

-532

19

1789

1797

1763

+26

2258

-469

20

1748

1748

1722

+26

2175

-427

21 1743n 1743 1712n +31 2153 -410
26 1160n 1188n 1160n 0 - -

28

889n

924

899n

-10

795

+94

30

675n

705

685 (M)

+20 (M)

671n

+4

MC

987n

1035

987n

0

1143

-156

MARKET SHOWS SIGNS OF MEASURED RECOVERY

The market’s current yo-yo movements kept going this week with an upward trend as last sale’s falls were recovered. The positive tone from last Thursday flowed through for 2 days of solid rises for the AWEX EMI for a gain of 28 cents to 1545 and an identical rise in US$ terms to 1058. The AUD/US$ has been trading in the mid to high 68 cent bracket for 2 weeks after trading in the 67 cent range for a month before that but these fluctuations seem not to be influencing the market with everything else going on and are having very little effect on price direction. Gains for fleece types were pretty even - 15 to 35 cents for all microns. Skirtings added 10/20 cents while cardings remained firm and XBs added 10 cents for < 27 and fell 10 cents for 28 and coarser.

Consensus amongst buyers is that the change in sentiment along the pipeline that these price levels are more and more acceptable as the past 3 weeks of sales have shown and hopefully the erratic price movements of August/September are just a memory. Global economies look to be swinging to more positive outcomes with early autumn sales hopefully showing that Northern Hemisphere consumers are ramping up their spending. If Britain and the EU can resolve their differences, the UK can avoid a general election, resolve the Brexit issues quickly and the China/US trade war dies down global economies could dodge the bullet (Recession) everyone fears. A significant factor in the market’s dearer trend was the largest Chinese top-makers ramping up their buying after a quiet month or so. This could be an indication that the backlog of tops to spinning stage wools is clearing where cash flow has been tight due to delays in the uptake of contracts.

Ram sales are finished in this part of the state with the focus now down south. The Henderson family from Grogansworth stud at Yass cleared 87% for a top price of $8,000 to average $2205; Egelabra at Warren had a 100% clearance (146) to average $2,700 with a top price of $18,000; Glenwood at Wellington gained a top price of $5,800 to average $2,215 for an 89% clearance; and Hazeldean held their Hay sale to sell all but 2 of the 110 rams offered with a $2,600 average and a top price of $6,500. All the showfloor talk is of a solid to dearer market despite the largest selection since early August.

Main Buyers (This Week)

1

Techwool

5069

2

PJ Morris

3204

3

Fox & Lillie

1999

4

Aust. Merino

1980

5

United Wool

1964

6

Endeavour Wool

1767

Eastern Market Indicators (AUD cents/kg clean)

1545 cents é 28 cents compared with 18/10/2019

Northern Market Indicators (AUD cents/kg clean)

1560 cents é 15 cents compared with 18/10/2019

   AUD/USD Currency Exchange

0.6848 é 0.0061  compared with 18/10/2019

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