Weekly Market Reports


7 November 2014

admin Macwool - Friday, November 07, 2014

WEEKLY MARKET REPORT

Week Ending 7th November, 2014

AWEX Northern Micron Indices Comparison

AWEX INDEX

This Week

S19/14

This Week

M19/14

Last Sale

S18/14

Sydney

Change

Last Year

Sydney

Sydney Yearly

Change

17

1298

1271

1291

+7

1371

-73

18

1270

1253

1259

+11

1313

-43

19

1196

1197

1179

+17

1261

-65

20

1153

1162

1137

+16

1224

-71

21

1147

1157

1129

+18

1219n

-72

22

1136n

1142

1122n

+14

-

-

26

813n

817n

801n

+12

770n

+43

28

684

683

671

+13

660

+24

30

657

647

644

+13

628

+29

MC

785

783

782

+3

812

-27

A SAD WEEK FOR MACWOOL

A condensed sale in Melbourne due to the Melbourne Cup public holiday saw both east coast centres operating on Wednesday and Thursday with Fremantle holding a one day sale on Wednesday. With Cup celebrations out of the way and winnings collected, wool sales continued in the same vein as the previous Thursday, which traditionally is a good lead as to what might transpire in the next week. The opening day posted solid gains with emphasis on the stylish finer selection <18.5 micron. Thursday saw more intense bidding as the downward shift in the exchange rate to 85.5 cents on Wednesday night from 87 cents was enough to push the buyers to chase the market up by 10 to 20 cents. The EMI added 13 cents to its value, now 1042, as most indicators rose by 10 to 25 cents to claw back half of the past fortnight’s losses. Again, the types with the right specs were keenly sought after as some of our medium lots made up to 30 to 40 cents better than the indicators. There was good support for the lower spec types gaining up to 20 cents. The sharp correction in the exchange rate was put down to a fall in metal prices and the results of mid-term elections in the US which has wrestled power from President Obama and the Democrats to the Republicans two years out from the next election, essentially rendering Obama as a “lame-duck”.

Room 2 buyers were more subdued than their fleece counterparts as just the very best super-fine types moved up in price to the tune of 20 cents with all other microns and VM levels rock solid. The largest oddment catalogue since March (6270 bales, 15%) didn’t spook buyers as subtle rises had both centre’s MCI up by 5 cents as all types and descriptions lifted by 5 to 10 cents. The second biggest crossbred catalogue of the season, 6900 bales, didn’t bother the exporters either as 10 to 15 cent rises across the board were the norm.

On a sad note, we lost one of our great supporters and one of the wool industry’s most astute sheep men on Tuesday. Robert Coddington of East Roseville Stud passed away in Dubbo at 74 years of age. Robert was our very first client back in February 1988 and he and his family have been loyal clients ever since. In it’s hey day the East Roseville Stud was one of the leading merino studs in the country and for years was a major source of AI semen for many studs with some very well known sires among its ranks. Robert was a lovable character, always entertaining and a mentor for many young aspiring sheep men who today rank at the top of their game. He often gave up his time generously tutoring us on the finer points of sheep classing and breeding good wool. He will be sorely missed; his service will be 1pm Tuesday at Holy Trinity Anglican Church, Brisbane St, Dubbo.

A good week as prices improved and Wooltrade sales continued this morning. Hopefully the A$ has come down to a new level. This, coupled with a smaller offering this week (41,500 bales), certainly played its part to kick the market along. Next sale has 49,000 bales up nationally for buyers to fight over.

 

Ag Concepts Fwd Prices at 7 November

Micron

Date

Low

High

28

21-Jan-15

690

690

21

15-Apr-15

1140

1140

           

Main Buyers (This Week)

1

Techwool

5420

2

Tianyu

3173

3

Fox & Lillie

3056

4

Kathaytex (Vic)

2492

5

Modiano (Aust)

2299

6

Aust. Merino Exp

2268

7

PJ Morris

2091

8

Michell Aust.

2050

9

New England Wool

1997

 

 

Eastern Market Indicators (AUD cents/kg clean)

1042 cents é13 cents compared with 31/10/2014

 

AUD/USD Currency Exchange

0.8575 ê 0.0190  compared with 31/10/2014

Northern Market Indicators (AUD cents/kg clean)

1064 cents é13 cents compared with 31/10/2014

 

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