WEEKLY MARKET REPORT

Week Ending 26^th August, 2016

AWEX Northern Micron Indices Comparison

RAM SALES START WITH A BANG!! 

The market edged higher, Michael Phelps didn’t drown at the Olympics and Ram Sales are under way!! As most good judges thought the market added to last sale’s modest gain breaking through the 1300 cent barrier (an 11 cent rise to 1309) just 11 cents below the 12 month high of 1320 from Sale 01. Fine to medium types - 18 to 23s - went well posting 10 to 15 cent gains while the superfine microns <17.5 were in sellers’ favour as this recovery has most indicators just ahead or on a par with prices in early July.  In US$ terms the indicator fell 5 cents to 996 due to the A$ spending most of the week in the low 76s. Growers warmed to the lifting market as the clearance rate rose to 97.5% in the fleece room.

Skirtings also staged a recovery as rises of 10 to 20 cents were common with most emphasis on <3% VM - these prices now just below pre recess levels. Growers also took a liking to the renewed competition as just 12 bales were passed in from the Sydney offering of over 1900 bales. Cardings edged higher as the MCI lifted by 7 cents to 1053 as all types in this sector looked 5 to 10 cents better. Crossbreds also benefitted from the favourable exchange rate as gains were in the 5 to 25 cent range as these types are now 30 to 60 cents higher than early July.

The ram selling season is almost upon us as this week saw the National Ram Sale conducted here in Dubbo. The Supreme Ram was judged on Wednesday night from 4 outstanding sheep, one each from QLD, NSW, VIC and SA (2 super-fine and 2 medium sheep). The winner was the NSW ram from Peter & Jane Lette’s Conrayn Merino Stud at Berridale in the Snowy Mountains, southwest of Cooma. The 130kg ram at 17.8 micron was the supreme exhibit at Dubbo after winning the state title at the Royal Easter Show. The ram sale was highly successful with an average of $6540 from the 62 lots sold with a top price of $30,000 for a Towalba ram sold to Argentina. The South Americans dominated the top end of the sale as 2 other rams went to Argentina and 2 to Uruguay (these 5 rams averaging $19,800). Some notable stud averages were: Roseville Park $9625, Langdene $8165, Nerstane $14,500 (2 rams), Towalba $11,800, Glendonald $7335, Charinga $5,000, Alfoxton $6625 and Mount Ascot $4,500. A great success with anticipation of good ram sales to commence next week as we move into a bumper spring with very good commodity prices. Please don’t hesitate to contact your wool rep if any assistance is required with ram selections.

Next week has a national catalogue of 42,000 bales across the 3 centres with the opening designated super-fine sale of the season to be held in Sydney. If futures trading is a guide, market should be firm to dearer.

Ag Concepts Fwd Prices at 26 August 2016

                    Main Buyers (This Week)