Weekly Market Reports


5 October 2018

admin Macwool - Friday, October 05, 2018

WEEKLY MARKET REPORT

Week Ending 8th October, 2018

 AWEX Northern Micron Indices Comparison


AWEX INDEX

This Week

S14/18

This Week

M14/18

Last Sale

S13/18

Sydney

Change

Last Year Sydney

Sydney Yearly Change

17

2869

2773

2948

-79

2253

+616

18

2583

2542

2615

-32

2112

+471

19

2346

2346

2358

-12

1844

+502

20

2225

2221

2220

+5

1654

+571

21

2186

2166

2178

+8

1571

+615

22

-

2166

-

-4 (M)

1500n (M)

+666 (M)

26

1351n

1443n

1401n

-50

1069n

+282

28

904n

880

-

-30 (M)

788

+116

30

701n

729

-

-1 (M)

535

+166

MC

1385

1438n

1419

-34

1163n

+222

HIT AND MISS BUT GREAT IF YOU WERE LUCKY!

Some great falls were recorded over the past couple of days. Sadly some areas that needed it the most had little reprieve but around Dubbo up to 65mm fell and north of Brewarrina 50mm, so there’s a few who are smiling today.
The wool market didn’t have a great week offering 39,261 bales with the EMI losing another 21 cents which makes it 100 cents in the last three weeks. Most of the pain was felt at the very fine end with 16.5 losing 100 cents this week. The other sector to record significant losses was the burry types and, as the VM rose, the discounts went in step. The middle micron and low VM types actually fared quite well posting gains particularly on the final day giving some confidence that we may be about to turn the corner. The dollar did plunge yesterday to be almost two cents lower than last week so hopefully this will help arrest the fall. On that, currency movements cannot be blamed on the easing market as the EMI in USD terms over the past three weeks has fallen roughly the same amount.
As we said a few weeks ago two areas of concern are that cardings historically appear unsustainable and have been supply driven for some time and the remainder of the merino market is now in a supply driven phase whereas, up until recently, it was demand driven. The fear of supply will see erratic movements as processors from time to time will scramble to source raw material. All eyes are on the monthly data coming out of AWTA and this week the July-September data was released showing nationally a decline of 11.4% less wool tested and September, in isolation, was a scary 19.3%. NSW for September was down 33% compared to last year!
Just a reminder for those who wish to hear first hand about AWI’s performance and projects, particularly with WoolPoll on there will be a lunchtime event at Dunedoo Showground next Monday at 11am, and a 5pm meeting at the Wellington Soldiers Club. We urge you to make the time to come along, have a listen, ask questions and take some time out. Please call 1800 070 099 to register at no cost.

Next week a smaller offering of 34,500 bales will be offered with hopes pinned on a turnaround in fortunes which would go well with more rain!

Ag Concepts Fwd Prices at 5/10/2018

Micron

Date

Low

High

21

28-Nov-18

2200

2200

Main Buyers (This Week)

1

Tianyu

4481

2

Techwool

4325

3

Seatech Ind.

3871

4

Fox & Lillie

3337

5

Aust. Merino

3336

6

PJ Morris

1711

7

Endeavour Wool

1393

8

Michell Aust.

1317

9

Kathaytex Aust.

1154

 

Eastern Market Indicators (AUD cents/kg clean)

1992 cents ê 21 cents compared with 28/09/2018

 

Northern Market Indicators (AUD cents/kg clean)

2050 cents ê 24 cents compared with 28/09/2018

  

AUD/USD Currency Exchange

7080 ê 0.0178 compared with 28/09/2018

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