Weekly Market Reports


27 June 2014

admin Macwool - Friday, June 27, 2014

WEEKLY MARKET REPORT

Week Ending 27th June, 2014

AWEX Northern Micron Indices Comparison

AWEX INDEX

This Week

S52/13

This Week

M52/13

Last Sale

S51/13

Sydney Change

Last Year

Sydney

Sydney Yearly Change

17

1218

1221

1223

-5

1335

-117

18

1163

1168

1168

-5

1227

-64

19

1134

1144

1132

+2

1156

-22

20

1131

1132

1119

+12

1132

-1

21

1131

1138

1129

+2

1133

-2

22

1133n

1142

1133n

0

1167n

-34

26

813n

-

678

-11

838n

-25

28

665

676

645

-13

662

+3

30

640n

642

569n

-5

603n

+37

MC

796

792

794

+2

829

-33

INTO POSITIVE TERRITORY … JUST!

Our market information source was right on the money this week as his bold prediction rang true. The final sale of the season finished on a positive note (albeit by just 1 cent) as the EMI finished the financial year at 1022 after an opening day fall was cancelled out by a dearer final day’s sale. It was a market of two directions as medium types, 19 and broader, were up to 10 cents better and 18.5 and finer losing 5 to 10 cents - bar 16.5s which added 2 cents. At 1022 this is only 25 cents behind the start of the season, 1047, but this is the lowest closing figure since 2010, the third consecutive season-on-season drop.

Being the final seller on Thursday, we looked to fully benefit from the last day’s rise. Some types that fitted into exactly what buyers needed as they paid up to 30 cents more than the indicator. A very stylish clip from Nyngan had a 23.1 micron lot make 813 cents (1147 clean) which is 10 cents higher than the 18.5 indicator. A non-mulesed weaner line from Girilambone made 45 cents better than the indicator with 2% VM and a 22 micron lot from Molong topping that grower’s prices at 872 cents. The gap now between 18.5 and 23 micron is only 10 cents clean – quite incredible!!

Skirtings also recovered some lost ground on the final day as the only real change in price for the week was the finer types below 18 micron carrying 10% VM and higher, these back by 10 cents. The carding market followed the same pattern as combing wools when an opening day’s fall was finished off with a good recovery on Thursday. Locks led the charge as they finished 5 to 10 better with 1 lot making 502 cents as crutchings remained solid and stains couldn’t recover from a 10 cents loss on the opening day. Crossbreds also suffered from lack of buyer support early in the week as the finer types gave up 10 to 15 cents with 30 to 32 micron just in buyers’ favour.

Another season has ended and, to be quite frank, the last six months was a big disappointment. The market peaked in early September at 1128, then in early October about the same level, then again in early December at 1144, before tapering since Christmas. The only good periods were at the end January (1132) and the end of April (1056).  The low point was in early April at 993, a range of 135 cents over the course of the year. The national offering when compared to the previous season was down by 75,000 bales - 4% - now well under 2 million bales.

The national buyers list was released this morning. Well and truly out in front are our good friends at Techwool Trading, based in Victoria. They bought just shy of 206,000 bales (205,962) an average of 4,500 bales/week. They were no.1 in both east coast centres and 3rd in Fremantle. They purchased the most Merino fleece and XBs and were the no.2 for Merino skirtings and oddments. The 2nd placed buyer was Fox & Lillie buying 135,766, a gap of 70,000 bales. The top 10 buyers secured 97% of the national clip. Next week’s sale opens the new season with 39,000 bales on offer in the three centres, with a much more positive sentiment from the buying trade prices should hold or move ahead slightly.

Main Buyers (This Week)

1

Techwool

4301

2

Tianyu

2313

3

Aust. Merino Exp

2281

4

Lempriere (Aust)

2255

5

Fox & Lillie

2242

6

Michell

1863

7

Modiano (Aust)

1789

8

PJ Morris

1598

9

Chinatex (Aust)

1236

 

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

1022 cents é 1 cents compared with 20/06/2014                                   0.9403 ê 0.0002 compared with 20/06/2014

 

Northern Market Indicators (AUD cents/kg clean)

1035 cents unhanged compared with 13/06/2014

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