Weekly Market Reports


30 November 2012

admin Macwool - Friday, November 30, 2012

WEEKLY MARKET REPORT

Week Ending 30th November, 2012

Northern Micron Indices Comparison: Source of information: AWEX

AWEX
INDEX

This Week
30/11/12

Last Week
23/11/12

Change

Last Year
01/12/11

Yearly
Change

17

1388

1379

+9

1663

-275

18

1282

1280

+2

1500

-218

19

1221

1202n

+19

1427

-206

20

1150

1131n

+19

1372

-222

21

1134 (M)

1121 (M)

+13

1343 (M)

-209

22

1095 (M)

1089 (M)

+6

1244 (M)

-149

23

1079n (M)

1074 (M)

+5

1160 (M)

-81

28

584 (M)

584 (M)

0

629 (M)

-45

30

535 (M)

535 (M)

0

575 (M)

-40

32

464 (M)

468n (M)

-4

546n (M)

-82

MC

661

628n

+33

698

-37

SALE ROOM CHANGE – END OF AN ERA

The run home started off slowly, but ended with a wet sail. Coming back to Sydney from a Newcastle sale can present some problems with style adjustments. This was exactly the case as 18.5s and finer virtually lost the gains from the previous sale, slipping 15 to 20 cents. This first day fall coupled with a 52,000 bale national catalogue, made most pundits nervous as the exchange settled above 104 cents giving buyers plenty of ammunition to let the market slide. The only glimmer of hope the market may rebound was the way it finished in Fremantle on Wednesday night, with rises of 5 to 35 cents for most indicators. In fact 19 to 23 micron indicators finished ahead of their Eastern Seaboard counterparts, something of a rarity. Thursday’s market opened with a bang with all indicators recording double digit gains of 10 to 25 cents. We copped the benefit of this good recovery selling late on Thursday clearing all fleece lots on offer. By week’s end 18.5 and finer just kept their nose above water with gains of up to 10 cents as 19 and broader put on 10 to 20 cents as discounts shrunk to minimal amounts for faults like VM, colour, cott and tender.

Skirtings continued on their merry way despite buyers having plenty to pick from - this sale the largest weekly selection of Merino Skirtings since January (13.5% of the weekly offering). All types and descriptions attracted good support through till the final lots on Thursday. The sale opened with the burrier types (5 to 8%) adding 10 to 20 cents as low VM lots were quoted as fully firm. It was the reverse on the final day as the <4% VM pieces and bellies played catch-up putting on 20 cents as the C and D fault lots, 6 to 15 % VM, not adding to their overnight gains. Cardings posted a 5% gain as the MCI climbed 33 cents to 661 cents. Crutchings had the quietest sale, just 10 cents dearer while stains were 30 to 35 better and locks rocketed up to levels 50 cents higher when compared to the week before. The Crossbred catalogue was also the biggest since January (20%) but buyers weren’t spooked by the big volume as gain across all types looked to be in the 10 to 15 cent range as we cleared every lot in this sector.

The AWEX AGM was held this morning and a change of sale rooms for AWEX aligned brokers is in the wind. Currently 2 sets of rooms are in use, the ones we use, which have been in use for 40 years, and a 2nd sale room complex  located where the old canteen was, used by Landmark and Elders who are not members of AWEX. AWEX, under pressure from the owners, Stockland, have relinquished their lease on the original rooms and all brokers will sell in the one set of sale-rooms from January which, according to most buyers, are not as good as the older rooms. The end of an era, indeed. The AWI AGM was held last Friday with the full results of Woolpoll 2012 released. The recommended 2% wool tax was endorsed by 53% of the votes. 7% of votes were in favour of an increased tax to 2.5 or 3% with the big jump in a vote for 1%, 29% compared to 12% 3 years ago. The rise in this vote came mainly from WA after the WA Farmers Assn. instructed their member to vote 1%. We offer 750 bales next Wednesday - the market to be unchanged?

                   

Ag Concepts Fwd Price Trades W/E 30 November

MPG

Maturity

High

Low

21

23-Jan-13

1160

1160

20

20-Mar-13

1180

1180

21

8-May-13

1160

1160

21

21-Aug-13

1150

1140

21

23-Oct-13

1135

1135

21

11-Dec-13

1120

1120

             

1

Techwool Trading

5933

2

Williams Wool

4555

3

Viterra

4055

4

Chinatex

3506

5

Fox & Lillie

3164

6

Aust. Merino Exports

2530

7

Queensland Cotton

2408

8

Michell Australia

2275

9

Lempriere (Aust)

2044

                       

                Eastern Market Indicators (AUD cents/kg clean)                          AUD/USD Currency Exchange

                Eastern 1034 cents é 15 cents compared with 22/11/12                                    1.0470 é 0.0080 compared with 22/11/12

                Northern Market Indicators (AUD cents/kg clean)

                Northern 1056 cents é 13 cents compared with 22/11/12

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