Weekly Market Reports


27 May 2011

admin Macwool - Friday, May 27, 2011

WEEKLY MARKET REPORT

Week ending 27th May 2011

 

Northern Micron Indices Comparison: Source of information: AWEX

AWEX
INDEX

This Week
27/05/11

Last Week
20/05/11

Change

Last Year
27/05/10

Yearly
Change

17

2408n

2408n

0

1266

+1142

18

2094n

2094n

0

1172

+922

19

1749

1739

+10

1070

+679

20

1498

1472

+26

930

+568

21

1423

1402

+21

917

+506

22

1360n

1329n

+31

902

+458

23

1251n

1243n

+8

883

+368

24

1049 (M)

1027 (M)

+22

834

+215

25

-

932n (M)

 

-

 

26

-

869n (M)

 

613

 

28

676n

660

+16

464

+212

30

618n

594

+24

412

+206

32

560n

543n

+17

356

+204

MC

742

754

-12

582

+160

CLOSING IN ON A RECORD HIGH

Another rise in the wool market this week, albeit a small one, as the EMI added 20 cents compared to last week’s 40 cent jump. The EMI now is at 1384 cents, just a hair’s breadth away from the late March high of 1388 cents. For the first time since 1988 all three selling centres have 21 microns above 1400 cents clean - a great statistic.  AWEX failed to find any increases in the finer microns to leave 18.5 and finer unchanged. The medium types added to their values of previous weeks with 19, 19.5 and 23s gaining around 10 cents with 20 to 22 microns posting gains of 20 to 30 cents. With the national weekly offering now well under 40,000 bales for the foreseeable future, pressure was on buyers as competition for the “straight’” types (of which volumes have shrunk) heats up as cott and coloured types still outweigh the better lots on offer - although the degree of faults seems to be less and less as the weeks go by as sheep being shorn now aren’t as cotty or coloured as clips shorn pre Easter. Sheep shorn now weren’t as badly affected  by water due to their shorter staple length late last year as were sheep with longer wool that were shorn earlier this year.

Skirtings followed the lead of the fleece room as low vm and better style types were 50 to 60 cents higher with higher vm pieces adding up to 30 cents mainly due to a lower prevalence of cott, colour and jowl in clips now on offer. Oddments, however, bucked the rising trend after a modest gain on the opening day, lost 14 cents on Thursday and now a run of 6 weeks of losses in a row after reaching a high of 850 cents in early April. Crossbreds, like merino fleece and skirtings, also had a positive tone recording 15 to 25 cent rises by the close of sales on Thursday.

Even though the market was a bit subdued when compared to the two previous weeks, futures trading at 1440 cents for June coupled with an improving selection  and weekly offerings  averaging  just 31,000 bales for the next 3 weeks and with a relatively stable $AUD we could see the EMI crack the 1400 cent barrier. This would be an incredible achievement if this milestone were reached. Certainly the lack of supply will dictate market movement more than any other factor.  Next week will see Don MacDonald & Company offer 820 bales with 36,000 on offer nationally.

AgRisk FDIC Indicative Quotes 27/05/11

20

21

22

AUCTION

1497.5

1425.5

1368.5

Jun-11

1449

1410

1344

Aug-11

1390

1351

1285

Oct-11

1328

1289

1223

Dec-11

1300

1261

1195

Feb-12

1270

1231

1165

Apr-12

1247

1208

1142

Jun-12

1195

1156

1090

Aug-12

1185

1146

1080

MAJOR AUCTION BUYERS (Bales)

1

Techwool Trading

2794

2

Fox & Lillie

2682

3

Viterra Wool

2364

4

Modiano Aust.

2332

5

AS Gedge

1968

6

Lempriere (Aust)

1719

7

Queensland Cotton

1654

8

Chargeurs Aust.

1327

9

Victoria Wool Proc.

1194

 

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

                Eastern 1384 cents (é20) compared with 19/05/11                            1.0584 ê 0.0077 compared with 19/05/11

                Northern Market Indicators (AUD cents/kg clean)

                Northern 1444 cents (é15) compared with 19/05/11

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