30 August 2019

WEEKLY MARKET REPORT

Week Ending 30th August, 2019

AWEX Northern Micron Indices Comparison

AWEX INDEX	This Week S09/19	This Week M09/19	Last Sale S08/19	Sydney Change	Last Year Sydney	Sydney Yearly Change
17	1845	1819	1952	-107	2968	-1123
18	1795	1754	1888	-93	2651	-856
19	1593	1611	1728	-135	2418	-825
20	1515	1504	1683	-168	2311	-796
21	1499n	1503	1667n	-168	2286	-787
26	-	1133n	1148 (M)	-15 (M)	1548n (M)	-415 (M)
28	843n	846	870n	-27	965	-122
30	703n	698n	710n	-7	731n	-28
MC	806n	795n	895n	-89	1560	-754

ANOTHER DISASTROUS WEEK!

Just when there was a glimmer of hope the market might steady, woolgrowers were hit between the eyes with a sledgehammer for the second time in 3 sales!! The market took another savage hit with all microns recording triple figure losses, < 18.5 back by 90 to 110 cents while 19s and broader collapsed by 135 to 170 cents with only the very best types immune from the almost complete lack of support. Skirtings fared worse as better style, low VM types fell 70 to 100 cents while burrier (> 4%) lots with col and dust were quoted 180 to 250 cents from last sale’s levels. Cardings were also savaged by a lack of demand - all types in this sector reduced by 80 to 140 cents. The MCI has now lost an average of 93 cents for the past 2 sales and now sits at 806 a percentage ranking of just 6, meaning it has been higher 94% of the time over the past 5 years. Crossbreds came through the sale virtually unscathed - losses ranging from to 25 cents. The pass-in rate climbed to 35% with 18% withdrawn which saw 47% of the original volume rostered for sale actually sold.

On a brighter note, our seminar on Sheep Welfare and Husbandry Best Practice was attended by 90 woolgrowers keen to hear the guest speakers from wool buyers to vets and reps from current products and gain insight into some newly released products that can assist growers in the absolute best practice welfare for their sheep. It was a very informative day with the message coming through loud and clear that from the consumer who buys woolen garments to vets, whether your sheep are mulesed or non-mulesed, the best welfare practice is critical.

The National Merino Sheep Show and Ram Sale was held in Dubbo this week as the drought tightens its grip and the wool market continued its dramatic fall. Talk of a tough sale was spot on as the clearance rate fell to 53%. Roseville Park topped the sale with a ram selling for $22,000 and a $7,000 average; Langdene averaged $3166; and Alfoxton from Armidale who won the Supreme Champion Ram sold another for $16,000.

A few buyers have reported good volumes of business overnight that hopefully might stop the rot next week.

Ag Concepts Fwd Prices as at 30 August, 2019

Micron	Date	Low	High
21	25-Sep-19	1620	1620
21	13-Nov-19	1600	1600
21	22-Jan-20	1570	1570

Free knitted woollen jumpers for poddy lambs. Call into our office in Dubbo or Macdonald Rural at Brewarrina and take as many as you need. Many colours and styles to choose from!

Main Buyers (This Week)

1
Techwool
2343

2
Tianyu Wool
2141

3

Fox & Lillie

1747

4
G Schneider
1166

5
Endeavour Wool
1622

6

PJ Morris

665

Eastern Market Indicators (AUD cents/kg clean)

1375 cents ê 122 cents compared with 23/08/2019

Northern Market Indicators (AUD cents/kg clean)

1405 cents ê 116 cent compared with 23/08/2019

AUD/USD Currency Exchange

0.6729 ê 0.0054 compared with 23/08/2019

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Weekly Market Reports

30 August 2019

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