Weekly Market Reports


27 March 2015

admin Macwool - Friday, March 27, 2015

WEEKLY MARKET REPORT

Week Ending 27th March, 2015

AWEX Northern Micron Indices Comparison

AWEX INDEX

This Week

S39/14

This Week

M39/14

Last Sale

S38/14

Sydney

Change

Last Year

Sydney

Sydney Yearly

Change

17

1337

1324

1336n

+1

1248n

+89

18

1301

1285

1299

+2

1183

+118

19

1205

1202

1208

-3

1136

+69

20

1172

1167

1170

+2

1100

+72

21

1159

1150

1157

+2

1096

+63

22

1134n

1119

1134

0

1086n

+48

26

930n

923

918n

+12

738n

+192

28

836

829

831

+5

656

+180

30

787

783

787

0

629n

+158

MC

933

952

925

+8

798

+135

OFF TO THE ROYAL EASTER SHOW!!

It was another stable week for wool sales across the country as minor movements in all 3 centres saw the AWEX EMI move up by the barest of margins (1 cent) to 1094. The best performer of the week was in Sydney as a 2nd day rally saw most fleece indicators finish in sellers’ favour, up to 5 cents higher, with 16.5 and 18.5s up by 10 cents with the only negative indicator being 19s, back by 3 cents. Melbourne and Fremantle had mixed fortunes but managed to hold their ground to remain unchanged for the week.

A sudden jump in the exchange rate over the weekend to just below 79 cents (a 2 cent rise) was enough to predict a 10 to 20 cents fall for fleece types by most good judges on the showfloor. Thankfully, when the market opened on Wednesday, falls were not to the extent talked about with 19 to 19.5 back by 5 cents. A slide in the A$ on Wednesday night saw things  pick up on Thursday to see the market finish just in positive territory as all types, regardless of specs, benefitted from renewed demand with growers in Sydney clearing 95% of their fleece.

Room 2 chugged along nicely to see a solid to dearer market for all sectors. Merino skirtings had a cautious opening session but saw momentum build on the final day as most types added 10 to 20 cents from the previous sale, although the ever-increasing volume of cott and VM could adversely affect prices of these types after the Easter recess. Finer crossbreds came under renewed competition as 25 to 28 micron types gained up to 10 cents while the broader indicators were unmoved. Cardings continue to re-write the record books as all 3 centres had their MCIs gaining 5 to 10 cents. Locks posted gains of 10 to 20 cents while stain and crutchings looked 5 cents better. One lot of CRT from Euchareena made 707 cents while short LMS, 40 to 60mm, are constantly making 650 to over 800 cents - fantastic money for these types. Growers again were happy with prices offered as over 97% was cleared to the trade in Room 2.

Another flat week for the market as the threat of lower prices due to exchange rate movements didn’t eventuate and to finish just in sellers’ favour is probably a good result. The market has flat-lined now for the past 7 weeks (15 selling days) trading in a range from 1085 to 1094 cents. It did climb to 1101 for 3 days previous to this current pattern we are in at the present time. Looking at these numbers one would think the market hasn’t done much, even boring to a certain degree! As far as fleece wools go that is spot on but for Room 2 types the gains are in the order of 40 cents.

History will be made next week when wool sales are held at the RAS Easter Show for the 1st time. The sale will take place in the Sheep Pavilion on Tuesday 31st March and Wednesday 1st April. This initiative from AWEX and the RAS is to show the greater public how a wool sale is conducted. We sell on the Wednesday with a catalogue of 2000 bales and 2 carloads of clients to see their wool sold. If you’re at the show please drop by and have a look - we should be selling 12 midday. Hopefully the market can hold on as this is the biggest national catalogue for 5 weeks at 50,000 bales.

 

Ag Concepts Fwd Prices at 27 March

Micron

Date

Low

High

21

27-May-15

1145

1150

21

24-Jun-15

1145

1145

 

Main Buyers (This Week)

1

Techwool

5243

2

Chinatex

4801

3

Fox and Lillie

3869

4

Australian Merino

2354

5

P J Morris

2294

6

Lempriere

2286

7

Tianyu

1931

8

Modiano (Aust)

1818

9

Kathaytex (Vic)

1782

 

Eastern Market Indicators (AUD cents/kg clean)

1094 cents é 1 cents compared with 20/03/2015

Northern Market Indicators (AUD cents/kg clean)

1117 cents é 2 cents compared with 20/03/2015

AUD/USD Currency Exchange

0.7807 é 0.0071 compared with 20/03/2015

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