WEEKLY MARKET REPORT 

Week Ending 27th September, 2019

 AWEX Northern Micron Indices Comparison

IS THIS ANOTHER PEAK??

The Nanjing Wool Conference that was held last weekend proved to be a success as plenty of business was written as all mills sold plenty of quantity to fill large fake fur orders. The market’s stunning rise two sales ago kept going this week as an opening day surge saw 19 micron and broader add 90/100 cents and finer types 35 to 60 cents with some superior types 50 to 200 cents higher. Skirtings also recorded rises beyond 100 cents as the low VM < 2.5% lifted by 100/130 cents while all others were 70 to 110 better. XBs posted gains of 30/50 cents while cardings enjoyed the renewed buyer sentiment as the 3 centres averaged a 64 cent jump as all types rose by 40 to 80 cents. The AWEX EMI rose by 67 cents to 1609, a 244 cent (63%) recovery over the past 3 weeks from the 389 cent fall in August.

Ram sales continue in earnest with good averages and clearance rates. Some more results include: Macquarie Dohne cleared 100% with a top of $6,000 to average $1,880; Gullendah at Baldry also had a top of $6,000 to average $1,970 and cleared 96%; Roseville Park also cleared 100% to average $3185 topping at $12,000; Towalba at Peak Hill sold 95% to average $1,775 with 2 rams selling for $5,000; Coddington Uardry also achieved a top of $5,000 to average $1,980 and clear 94%; Trynow at Goolma averaged $1,330 for a top price of $4,600; Calga Dohnes from Coonamble sold 91% to average $1,455 with a top of $3,600; Bella Lana at Wellington had a top of $4,550 to clear 90% and average $1,950. In the Riverina Poll Boonooke and Wanganella had a top price of $26,000 to average $3,675 and sold all but 1 of the 190 rams offered and Pooginook topped out at $6,500 to average $2,365 for all 237 rams sold.

AWI board elections will be held in November and all shareholders were sent documentation showing their voting entitlements at the AGM. There have been some discrepancies where the numbers of entitlements were wrong. If you have any queries we can email you a report showing the amount of wool tax for the past 3 years.

Most exporters thought this run on the market could last for a few sales but Fremantle’s fall in the market late yesterday (30 to 70 cents) could see the market give up some of this week’s gains.

       Ag Concepts Fwd Prices as at 27th September, 2019     

Main Buyers (This Week)