Weekly Market Reports


26 April 2013

admin Macwool - Friday, April 26, 2013

WEEKLY MARKET REPORT

Week Ending 26th April, 2013

AWEX Northern Micron Indices Comparison

AWEX INDEX

This Week

26/04/2013

Last Week

19/04/2013

Change

Last Year

27/04/2012

Yearly Change

17

1309n

1304n

+5

1610n

-301

18

1190

1196

-6

1460

-270

19

1157

1177

-20

1381

-224

20

1119

1141

-22

1333

-214

21

1105

1124

-19

1313

-208

22

1092

1102n

-10

1275n

-183

23

1065 (M)

1073n (M)

-8

1232 (M)

-167

28

590

600

-10

652

-62

30

553

557

-4

590

-37

32

469n

471n

-2

519n

-50

MC

721

715

+6

714

+7

LEST WE FORGET

Confusion again reigned supreme as the opening day’s sale, held on Tuesday, finished with three different outcomes from the three selling centres. On the eastern seaboard Melbourne posted a modest 4 cent rise while the market is Sydney was unchanged as finer types under 19.5 rose up to 20 cents while 20s and broader slipped 5 to 10 cents. Fremantle’s market unfortunately couldn’t sustain any forward movements, with the two eastern markets falling late in the day, as 18 to 21 micron indicators gave up 5 to 20 cents - not a good sign for Wednesday’s markets. The downward trend spread through all three centres as widespread falls of 10 to 25 cents were the order of the day in Sydney and Melbourne. Worse was to happen in the west as falls in the order of 25 to 45 cents resulted in a pass in rate of 49 %.  After what was a reasonable start to the week, things went downhill suddenly to have the EMI slip under 1000 cents to 995 cents. Of the regional centres, Sydney and Fremantle still remain above 1000 now at 1012 and 1006 respectively with Melbourne at 984 cents. The worrying aspect was the 41 cent fall in Fremantle making the outlook for next week shaky at best. One bright note was that the 17 and 17.5 indicators did record subtle rises on the eastern seaboard as all other indicators fell 5 to 25 cents, with all microns in the west 40 to 60 cents cheaper.

Skirtings, although cheaper, weren’t punished as much as the fleece types. An opening days solid to sellers favour market across all types and microns, regardless of VM, somehow negated the final day’s losses to a certain extent. Lots containing less than 5% VM were quoted 10 cents lower with the higher VM types 15 cents off. This season’s selection of skirtings are benefitting from lower VM levels and far less cott, colour and jowl than was prevalent a year ago. This is reflected in the good prices for BKN from Coonamble, Trangie and Nymagee, realising low to mid 500 cents. Cardings rallied on both days to have the MCI gain 6 cents to 721 as stains and crutchings looked 10 cents dearer while locks on the finer side were quoted 5 cents higher. Crossbreds finished in negative territory for the sale as 28 and finer lost 10 to 15 cents while the 30 micron and broader types were just in buyers’ favour.

The up and down movement has everyone guessing as to which way the market will go, not only week to week but almost on a daily basis as was the case on Tuesday. The frantic buying of late last week is now a distant memory with a lower exchange rate and weekly quantities in the low 40,000 for the foreseeable future - not enough to stimulate the market in an upward trend any time soon according to some “experts”.  Techwool was this sale’s leading buyer topping the list at 4700 bales. Viterra  and Fox & Lillie were next with 3700 each and Lempriere purchasing 3200.

A milestone was reached this week as the Zegna wool awards celebrated their 50th anniversary in Sydney. From small beginnings in Tasmania in 1963, this award is now highly sought after amongst super-fine woolgrowers across the country. Third generation wool growers from Mudgee, Andrew and Penny Hundy won 1st prize, and took home the prestigious Vellus Aureum Trophy for the finest fleece, 11.3 micron. Zegna chairman Paolo Zegna, also a 3rd generation participant in the production of high end fashion from super-fine wool was proud to chalk up 50 years of these awards and looked forward to another 50 years of involvement. Just 41,000 bales are rostered for next week, as a dearer market would be a good result.

Ag Concepts Fwd Price Trades W/E 26 April, 2013

MPG

Maturity

Low

High

21

05-Jun-13

1100

1100

21

10-Jul-13

1145

1150

19

23-Oct-13

1170

1170

 

1

Techwool

4705

2

Fox & Lillie

3813

3

Viterra

3696

4

Lempriere (Aust)

3181

5

Tianyu Wool Pty Ltd

2095

6

Queensland Cotton

1848

7

Kathaytex

1846

8

PJ Morris

1266

9

Australian Merino Exp.

1003

 

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

995 cents ê 10 cents compared with 19/04/2013                                   1.0252 ê 0.0045 compared with 19/04/2013

 

Northern Market Indicators (AUD cents/kg clean)

1012 cents ê 12 cents compared with 19/04/2013

 

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