WEEKLY MARKET REPORT

Week Ending 3^rd November, 2017

AWEX Northern Micron Indices Comparison

AWI VOTING OPEN, RECORDS BROKEN – EVEN XBs DEARER!!

The market marched on this week as several records were broken. The AWEX EMI jumped by 45 cents to 1623 - 25% above the level the same sale 12 months ago. This now an all time high beating the August peak of 1614c and the old AWC indicator in April 1988 of 1584 cents. The rise was 35 cents in US$ terms to 1252 as the FRX floated between 77.2 and 76.5 cents. The rises were across all microns and types (30 to 75 cent gains with some superior types over 130 cents better) as buyers warmed up for next week’s designated super-fine sale. The 19.5 MPG is at an all time high (1850) since its introduction to market reports in 2001 as 20 to 23s close in on record levels.

Skirtings sold to excellent competitive tension as 19 micron and finer < 3% VM shot up by 80/100 cents while broader, burrier types with 5 to 10% VM looked 50 cents dearer as just 15 bales were passed-in. Cardings created new records as the 3 centres added significant gains to their MCIs. All types in this sector jumped by 40 to 100 cents to have the MCI at 1289 in Sydney as every bale on offer was snapped up. Crossbreds were also caught up in the buying frenzy to snap an 11 week falling run as rises were 20 to 35 cents for 25 to 30 microns - a very welcome rise. The total bales sold this sale nationally were 45,193 that grossed $87.18m which equates to $1929/bale. It was way back in 1996 that a single week’s sold wool came to a similar value but the total bales sold were 140,000 - $622/bale!! This works out to a 310% rise in the market.

Still plenty of news around regarding AWI and the impending elections for positions on the board on November 17^th. Growers who are eligible to vote should have received their “how to vote” papers. There has been plenty of argy-bargy amongst certain individuals in the rural press and this could be the most important elections in AWI’s history. In the last election in 2013 just 18.6% (204,488) of the 1.1m eligible votes were cast and a total of 98.8% (202,211) were proxy votes, ie left to the chairman as to whom the vote was to be directed. It is imperative that every grower cast their own vote and not have someone else decide who sits on the board. We all know this situation would never happen in any level of politics so why would we tolerate it at AWI!!

Ag Concepts Fwd Prices at 3 November 2017

Main Buyers (this week)