Weekly Market Reports


27 October 2017

admin Macwool - Friday, October 27, 2017

WEEKLY MARKET REPORT

Week Ending 27th October, 2017

AWEX Northern Micron Indices Comparison 

AWEX INDEX

This Week

S17/17

This Week

M17/17

Last Sale

S16/17

Sydney

Change

Last Year

Sydney

Sydney Yearly

Change

17

2377

2273n

2338

+39

1669

+708

18

2201

2153

2161

+40

1641

+560

19

1920

1892

1885

+35

1573

+347

20

1668

1653

1657

+11

1468

+200

21

1560

1556

1553

+7

1415n

+145

22

1483n

1491n

1476n

+7

1388n

+95

26

1014

1014

1043

-29

1084n (M)

-70 (M)

28

707

705

726

-19

735

-28

30

515

518n

521

-6

594

-79

MC

1233n

1239n

1206

+27

1128n

+105

 BILLION DOLLAR WOOL CLIP ALREADY!

After a shaky start the market consolidated late in the sale to see the AWEX EMI post a 10 cent gain for the series to 1578.  The impetus for the rising market was the favourable shift in the FRX, 76.85 on Wednesday night, 2% fall - from a high of 78.50 cents last Thursday. This saw the EMI in $US terms actually lose ground to 1218, a discount of 13 cents. The market looked as though it was split in two as the sale opened, finer than 19 micron on the increase and broader types cheaper, but the 2nd day of selling saw renewed buying activity to have < 19.5 20 to 45 cents to the good with 20s and broader 10 cents better as all types, regardless of VM, colour and (to an extent) mid-breaks benefitted.
Skirtings continued on their merry way as the superior style types with < 5% VM were up to 50 cents higher with most lots 20 dearer. Growers warmed to these new higher levels as just 8 bales were passed-in from 2038 offered!! Cardings also are at lofty heights with the 3 regional MCIs now averaging 1236 cents after all types gained 20/30 cents. Again, growers liked the increased prices as only 9 bales failed to find a new home from 1273! These levels now equal with any peak over the past 5 years. Crossbreds continue to frustrate growers as the finer microns, 25 to 28s, fell another 20 to 30 cents as the broader types were in buyers’ favour as high volumes outside Australia still hinder this sector.  
A milestone week as the value of wool sold so far this season broke through the $billion mark ($1,004.66m). This equates to $1792/bale for every bale. This is the earliest point of the season since 2002 that this has happened. For the same sale last year the value was only $800 million (26% lower) with the volume of wool sold only 12% down on this season.

Ram sales are just about wound up in this area as the focus moves to the south of NSW. A few results are; Glenwood at Wellington topped at $5600 to average $1855 to clear 92%; Grogansworth at Bowning achieved a clearance rate of 98% with a top price of $4750 and an average of $2075, up by a healthy $360 from last year. Next sale has 47,000 bales rostered in the 3 centres with the market to continue in the same vein, good for Merino and tough for Crossbreds.

Ag Concepts Fwd Prices at 27 October 2017

Micron

Date

Low

High

21

28-Feb-18

1530

1530

21

28-Mar-18

1520

1520

Main Buyers (this week)

1

Tianyu Wool

4432

2

Fox & Lillie

4226

3

Techwool

3618

4

Australian Merino

3456

5

Lempriere

2771

6

Seatech Ind.

2682

Eastern Market Indicators (AUD cents/kg clean)

1578 cents é 10 cents compared with 20/10/2017

Northern Market Indicators (AUD cents/kg clean)

1673 cents é 16 cents compared with 20/10/2017

AUD/USD Currency Exchange

0.7717 ê 0.0135  compared with 20/10/2017

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