Weekly Market Reports


7 December 2018

admin Macwool - Friday, December 07, 2018

WEEKLY MARKET REPORT

Week Ending 7th December, 2018

 AWEX Northern Micron Indices Comparison


AWEX INDEX

This Week

S23/18

This Week

M23/18

Last Sale

S22/18

Sydney

Change

Last Year

Sydney

Sydney Yearly

Change

17

2513

2445

2487

+26

2477

+36

18

2379

2326

2372

+7

2273

+106

19

2218

2202

2188

+30

2015

+203

20

2147

2156

2141

+6

1794

+353

21

2129

2133

2129

0

1669

+460

22

-

2140n

-

-1 (M)

1564 (M)

+576 (M)

26

1205

1244n

1335n

-130

1064

+141

28

855

850

-

-

772

+83

30

703n

683

-

-

571

+132

MC

1183

1174n

1199

-16

1433

-250

PENULTIMATE SALE DELIVERS ... NOT MUCH!

When looking at the AWEX EMI it’s hard to imagine little change with the 11 cent fall to 1849 cents but there were many twists and turns in the different sectors as XBs contributed to the slight fall. By week’s end the merino fleece sector had made some reasonable gains, up to 30 cents with some finer, lower style types over 2% VM commonly 50/60 cents to the good.

After a slow start merino skirtings came home with a wet sail again with gains similar to the fleece sector, up to 30 cents. Cardings took a breather from their rapid rises of a few weeks ago losing what they gained last series as all types retreated by 30 cents. After a few sales of whirlwind rises buyers put the brakes on any further gains in the XB sector citing the last series’ jumps too much as most microns lost 70 to 130 cents. The “fake fur” order that led to the sudden rises is still in place and will come into play again in January. Another reason for the fall could’ve been the sudden lift in volume of XBs particularly in Melbourne where only 17% of the Room 2 wools were merino PCS and BLS.

A good sale for merino growers as these types look to be building momentum again. The main Chinese indent buyer was again quiet but local traders filled this void to out-bid him on most occasions operating on a strict buy-in level price, not their usual method of purchasing.  Australia’s biggest buyer, Techwool Trading, flexed their muscle to buy 16% of the total sold this sale buying twice the volume of the next buyer on Thursday.

The sharp decline in the FRX from almost 74 cents on Monday to below 72 cents on Thursday - a 2 cent fall - was too late to help the markets on the Eastern seaboard but did benefit the Fremantle market, up by 20 to 45 cents on Thursday. The release of Australia’s poor GDP figures and trade issues between China and the USA saw financial markets tumble and currencies react. Next week sees the final sale of the year with 48,000 bales on offer - the largest sale since early August. Hopefully buyers will need to buy and ship wool to keep machinery running in January.

Ag Concepts Fwd Prices at 7 December 2018

Micron

Date

Low

High

21 12-Dec-18 2125 2125
21 6-Mar-19 2100 2100

Main Buyers (This Week)

1

Techwool

5405

2

Aust. Merino

2802

3

Tianyu

2800

4

Fox & Lillie

2691

5

Endeavour Wool

2233

6

PJ Morris

1970


Eastern Market Indicators (AUD cents/kg clean)

1849 cents ê 2 cents compared with 30/11/2018

Northern Market Indicators (AUD cents/kg clean)

1897 cents ê 8 cents compared with 30/11/2018

AUD/USD Currency Exchange

0.7225 ê 0.0090 compared with 30/11/2018

Comments
Post has no comments.
Post a Comment





Trackback Link
http://www.macwool.com.au/BlogRetrieve.aspx?BlogID=4383&PostID=735282&A=Trackback
Trackbacks
Post has no trackbacks.