Weekly Market Reports


30 November 2018

admin Macwool - Friday, November 30, 2018

WEEKLY MARKET REPORT

Week Ending 30th November, 2018

 AWEX Northern Micron Indices Comparison


AWEX INDEX

This Week

S22/18

This Week

M22/18

Last Sale

S21/18

Sydney

Change

Last Year

Sydney

Sydney Yearly

Change

17

2487

2426

2472

+15

2459

+28

18

2372

2315

2343

+29

2270

+102

19

2188

2195

2204

-16

1999

+189

20

2141

2152

2172

-31

1773

+368

21

2129

2138

2158

-29

1649

+480

22

-

2141n

2144 (M)

-3 (M)

1561 (M)

+580 (M)

26

1335n

1359

1245n

+90

1035

+300

28

-

946

861n (M)

+85 (M)

734 (M)

+212 (M)

30

-

753

734 (M)

+19 (M)

536 (M)

+217 (M)

MC

1199

1181

1180

+19

1382n

-183

MARKET MARKS TIME

After last series’ big lift the market consolidated with no shift in the AWEX EMI to stay at 1860. The Sydney market managed a 2 cent gain while Melbourne lost 2 cents to come to that unchanged figure - a good result considering the FRX went against the A$ by 1%, this reflected in the rise of the EMI in US $ terms by exactly that amount, 13 cents to 1360. On the surface the market was unchanged but there were some very mixed results across the different categories. The fleece sector saw some subtle movements with the final designated super-fine sale of the year helping the sub 18.5 micron types post gains up to 30 cents and for the “Italian/European” types (spinners and better) premiums were in the order of 200/300 cents with some < 16.5 micron types even with very poor strength readings were 30 to 80 cents higher. Broader microns from 19 couldn’t maintain their big increases of last sale and lost 15 to 30 cents - buyers citing last Thursday’s push of 20/40 cents as too much after absorbing Wednesday’s price rises as plenty of business had been done that night after that day’s good gains.
Skirtings also benefitted from the superior selection on offer as these finer, low VM types lifted by 10 to 20 cents with some up to 50 cents to the good. Cardings also were quoted dearer helped along by the better offering as fine LKS < 17.5 micron looked 20 to 50 cents dearer with all other types of cardings solid. The Crossbred sector was the stand–out for the week as 26 to 28 micron shot up 80 to 90 cents. This push that started last sale has come about from some large “fake fur” orders being placed in China that uses 25.5 to 27.5 micron wools but these rises may be short lived as requirements may be filled pre-Christmas or early in the New Year.

The absence of the biggest Chinese indent trader did see prices falter early but other buyers soon filled the void to secure volume as well as local traders and one of China’s larger top-makers. A major talking point was quota issues in China with their allocation of 300 million greasy kgs of all wool allowed to be imported rumoured to be fulfilled. We have retained our share of that quota with end of September figures showing a 1% decrease of volume imported year on year. Fresh quotas will be issued in a month and, given the 3 week recess is almost upon us, little impact is expected if quotas have, in fact, closed off for the calendar year. After last week’s rise 40,000 bales are on offer next week and the final sale before Christmas could see close to 50,000 bales for sale.

Main Buyers (This Week)

1

Techwool

4543

2

Fox & Lillie

3226

3

Tianyu

2820

4

Endeavour wool

2567

5

Aust. Merino

2367

6

Lempriere

1927

7

Kathaytex Aust.

1678

8

Michell Aust.

1656

9

PJ Morris

929

Eastern Market Indicators (AUD cents/kg clean)

1860 cents é 2 cents compared with 23/11/2018

Northern Market Indicators (AUD cents/kg clean)

1905 cents é 7 cents compared with 23/11/2018

AUD/USD Currency Exchange

0.7315 é 0.0063 compared with 23/11/2018

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