Weekly Market Reports


3June 2011

admin Macwool - Friday, June 03, 2011

WEEKLY MARKET REPORT

Week ending 3rd June 2011

 

Northern Micron Indices Comparison: Source of information: AWEX

AWEX
INDEX

This Week
03/06/11

Last Week
27/05/11

Change

Last Year
03/06/10

Yearly
Change

17

2408n

2408n

0

1278

+1130

18

2091n

2094n

-3

1180

+911

19

1759n

1749

+10

1078

+681

20

1518

1498

+20

941

+577

21

1444

1423

+21

927

+517

22

1386n

1360n

+26

904

+482

23

1268n

1251n

+17

886

+382

24

1078 (M)

1049 (M)

+29

-

-

26

867n (M)

-

-

614

+253

28

671

676n

-5

468

+203

30

616n

618n

-2

424

+192

32

558n

560n

-2

356

+202

MC

747

742

+5

598

+149

ARE WE HEADING FOR 1500?

It was a case of deja vu as the market was almost a carbon copy of last week. This was also the case in the fortnight before as two weeks of excellent gains earlier in May have now been followed up by two weeks of good gains. The EMI posted a 14 cent rise to sit at 1398 cents (tantalisingly close to the magical 1400 cent level). Finer indicators struggled to take any direction and finished basically unchanged except for 18 and 18.5 which were in buyers’ favour. The better style finer lots in Sydney and an excellent selection of Launceston stored wool saw these types close up to 30 cents higher due to Italian mills chasing these lots. Most of this week’s gains came from the middle microns where 19s lifted by 10 cents and 19.5 to 24s rose 15 to 25 cents regardless of style and, to a certain exten,t vm.  All descriptions sold to stronger competition under pressure from a supply squeeze that won’t go away any time soon. Medium wool seems to be the star of the show lately as 21s with mid to high 60s yield up to 4% vm are making in the low 900s - an incredible number! Also helping the market is the improving selection, clips are not as cotted or contain less colour as was the case a few weeks ago.

Once again skirtings followed the lead of the fleece room as the few lots of low vm types, especially in Melbourne, added up to 60 cents (most likely the Launceston wools). The burrier pieces and bellies in Sydney weren’t to be out-done as these lots now containing a lot less cott and colour than three weeks ago were pushed 20 cents higher. It may well seem that the worst of the selection is behind us and blending of good and inferior types is easier again as it was pre Easter. Cardings snapped a six week losing streak to push the MCI up 5 cents as locks and crutchings added 10 cents with stains unchanged. Crossbreds had a mixed week as losses on Wednesday did regain some ground on Thursday to finish the sale up to 5 cents cheaper.

Buyers purchasing strategies seem to have changed at the moment. The age old practice of booking up wool then beating each other up to buy at the right price has now been replaced with a” buy today and offer out tonight” pattern that is working to all parties’ expectations. With supply still the dictating factor, the selection on the improve and June futures trading at 1480 cents, 40 above the market, we could well see the EMI climb above 1400 cents. Don Macdonald & Co. will offer 870 bales first up on Thursday as part of just 22,000 bales between Sydney and Melbourne with Fremantle having a week’s recess.                     

AgRisk FDIC Indicative Quotes 03/06/11

20

21

22

AUCTION

1520.5

1446.5

1389.0

Jun-11

1508

1469

1403

Aug-11

1432

1393

1327

Oct-11

1366

1327

1261

Dec-11

1315

1276

1210

Feb-12

1297

1258

1192

Apr-12

1265

1226

1160

Jun-12

1230

1191

1125

Aug-12

1220

1181

1115

MAJOR AUCTION BUYERS (Bales)

1

Viterra Wool

4015

2

Techwool Trading

2857

3

Fox & Lillie

2607

4

Modiano Aust.

2227

5

Lempriere (Aust)

2204

6

Queensland Cotton

2073

7

AS Gedge

1949

8

Chinatex (Aust)

1145

9

Victoria Wool Proc.

611

 

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

                Eastern 1398 cents (é14) compared with 26/05/11                            1.0618 é 0.0034 compared with 26/05/11

                Northern Market Indicators (AUD cents/kg clean)

                Northern 1456 cents (é12) compared with 26/05/11

Comments
Post has no comments.
Post a Comment





Trackback Link
http://www.macwool.com.au/BlogRetrieve.aspx?BlogID=4383&PostID=109363&A=Trackback
Trackbacks
Post has no trackbacks.