WEEKLY MARKET REPORT
Week Ending 27th January, 2017
AWEX Northern Micron Indices Comparison
AWEX INDEX |
This Week S30/16 |
This Week M30/16 |
Last Sale S29/16 |
Sydney Change |
Last Year Sydney |
Sydney Yearly Change |
17 |
2004 |
1971 |
2016 |
-12 |
1569 |
+435 |
18 |
1907 |
1875 |
1931 |
-24 |
1550 |
+357 |
19 |
1735 |
1721 |
1761 |
-26 |
1464 |
+271 |
20 |
1537 |
1540 |
1583 |
-46 |
1409 |
+128 |
21 |
1432 |
1432 |
1478 |
-46 |
1403 |
+29 |
22 |
1378 |
1368 |
1426 |
-48 |
1387 |
-9 |
26 |
919 |
917 |
930 |
-11 |
991 |
-72 |
28 |
661 |
661 |
665 |
-4 |
842 |
-181 |
30 |
554 |
533 |
575 |
-21 |
773 |
-219 |
MC |
1160 |
1158 |
1165 |
-5 |
1149 |
+11 |
Looks like The
dust has settled.
It was
another week of two halves, but this time the two days each had a different
tone about them. Not surprisingly, the first day of selling was met with buyer
resistance as the dollar edged higher and the offering consisted of more
broader merino types carrying higher VM. The Northern Indicator fell 20 cents
on Tuesday with the majority of the pain felt coarser than 20 microns. On
Wednesday the market held firm and even strengthened towards the end of selling
indicating the “correction” was over for the time being. Interestingly though,
the broader end continued to ease with 22 microns quoted back another 20 cents
on the second day.
The
weekly change column shows a clear direction for the market which has been
quite marked since the resumption of sales three weeks ago. What the market
reports don’t show are the discounts and quotes for wool carrying high levels
of VM e.g. fleece over 4%. About one third of our merino fleece offering this
week was carrying over 4%, and up to 11%. In the three weeks since sales
resumed the discounts for these types has nearly doubled as processors grapple
with what to do with them. Conversely, the skirtings off these same clips which
are carrying from 15-25% haven’t changed much and are making relatively good
money in clean terms. We expect this trend to continue over the next few months
as most clips will edge higher in micron and wool cut.
Merino
cardings have maintained values reasonably well as small volumes in this sector
keep buyers on their toes, crossbred oddments on the other hand have been
struggling for some time and much of the passed lots we have had during the
last three weeks have been these types.
For fine
wool, the future looks very bright as supply will tighten over the coming
months. One thing to consider as autumn approaches will be seed and shive. Any
seedy edges would be best removed as discounts on these types will definitely
increase as we have seen with clover burr.
Next week it is expected that the firming trend seen on Wednesday will continue and the offering of 42,500 bales is lower than any of the previous three weeks with Macwool first up on Thursday.
Ag
Concepts Fwd Prices at 20 January 2017
Micron |
Date |
Low |
High |
19 |
26-Apr-17 |
1670 |
1670 |
21 |
15-Mar-17 |
1430 |
1445 |
21 |
08-Feb-17 |
1450 |
1450 |
Main
Buyers (This Week)
1 |
Fox & Lillie |
4253 |
2 |
Techwool |
4071 |
3 |
Tianyu |
3258 |
4 |
Lempriere (Aust) |
3071 |
5 |
Aust Merino |
3013 |
6 |
Chinatex |
2814 |
7 |
P.J.Morris |
2569 |
8 |
Michell |
2566 |
9 |
Kathaytex |
1705 |
Eastern Market Indicators (AUD cents/kg clean) 1412 cents - 22 cents compared with 19/01//2017 |
Northern
Market Indicators (AUD cents/kg clean) 1487 cents - 19
cents compared with 19/01/2017 |
AUD/USD
Currency Exchange 0.7543 é 0.0021
compared with 19/01/2017 |
Comments
Post has no comments.