Weekly Market Reports


8 March 2019

admin Macwool - Friday, March 08, 2019

 WEEKLY MARKET REPORT 

Week Ending 8th March, 2019

 AWEX Northern Micron Indices Comparison

AWEX INDEX

This Week

S36/18

This Week

M36/18

Last Sale

S35/18

Sydney

Change

Last Year

Sydney

Sydney Yearly

Change

17

2608

2506n

2612

-4

2802

-194

18

2520

2428

2525

-5

2395

+125

19

2381

2365

2396

-15

2085

+296

20

2340

2330

2357

-17

1958

+382

21

2321

2295n

2338n

-17

1887

+434

26

1451n

1449n

1436n

+15

1170

+281

28

1169n

1165n

1151n

+18

808

+361

30

-

945

971 (M)

-26 (M)

570 (M)

+375 (M)

MC

1237

1192n

1210

+27

1319n

-82

STEADY AS SHE GOES!

Another steady week for the wool market as the AWEX EMI had a small decline of 8 cents to 2008. In Fremantle it was a reversal of the last series as it virtually gave up all the gains of the previous sale to fall by 20 cents to 2157. The volume of dusty, tender, fine fleece types weighed on the indicators as the lots with better specs, that were few in number, were rock solid but couldn’t compete with the inferior types as they pushed the fine indicators < 18.5 down by just 5 cents while the 19s and broader retreated by 15/20 cents with some of the poorer style wools quoted 30 to 60 cents cheaper as buyers struggle to fit the vast number of these drought affected wools into orders.

Skirtings followed the lead of their fleece counterparts to see prices reduce by 10 to 20 cents across all microns and VM levels. Cardings continued their price rises after last series’ hiccup to have the 3 centres average a 30 cent increase for the MCI, now 91 cents higher (1237) than their pre-Christmas close. Crossbreds kept their stellar run going as most types added 10 to 30 cents to their previous record breaking levels.

Despite the FRX going in favour of the A$ by 1 cent to 70.50 it was not enough to stop the market from falling. Although demand remains high and supply is dwindling the quality of the offering is a hindrance to any price advancement at the moment with the selection not improving any time soon.

ABARES held its annual Outlook Conference in Canberra this week releasing its new 5 year forecast for agricultural industries. The new forecast for wool looks confusing and inconsistent which is not providing the correct information for the industry. They are forecasting that total wool production for 2018/19 will be 383mkg (2.1 million bales) a 9% fall from the previous season. This is in line with AWTA testing data that is 11% less than last season up till the end of February.

The Chinese ban on wool imports from SA continues as a delegation from there is in China to try and bring a quick resolution to the stand-off but it could take up to 2/3 months. This didn’t hinder their market (up by 2% this week) with the big Chinese processor, Tianyu, securing 1600 bales. Our national catalogue drops back to 41,700 bales next week; we offer 760 bales on Thursday hopefully to a dearer market.

            Ag Concepts Fwd Prices as at 8 March 2019               

Micron

Date

Low

High

21 12-Jun-19 2250 2250 

Main Buyers (This Week)

1

Techwool

5114

2

Fox & Lillie

4338

3

Tianyu Wool

4138

4

Seatech Ind.

3549

5

Kathaytex

2974

6

Aust. Merino

2964

Eastern Market Indicators (AUD cents/kg clean)

2008 cents ê 8 cents compared with 01/03/2019

Northern Market Indicators (AUD cents/kg clean)

2058cents ê 5 cents compared with 01/03/2019

AUD/USD Currency Exchange

0.7048 ê 0.0099 compared with 01/03/2019

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