Weekly Market Reports


8 November 2013

admin Macwool - Friday, November 08, 2013

WEEKLY MARKET REPORT

Week Ending 8th November, 2013

AWEX Northern Micron Indices Comparison

AWEX INDEX

This Week

S19/13

This Week

M19/13

Last Sale

S18/13

Sydney Change

Last Year

Sydney

Sydney Yearly Change

17

1371

1325

1344

+27

1425

-54

18

1313

1272

1285

+28

1301

-12

19

1261

1250

1260

+1

1195

+66

20

1224

1218

1215

+9

1099

+125

21

1219n

1218

1210

+9

1084

+135

22

-

1205

1202n

+3 (M)

1049 (M)

+156

26

770n

772n

791

-21

821n

-51

28

660

657

659

+1

584

+76

30

628

627

629

-1

531

+97

32

550n

555n

553n

-3

469n

+81

MC

812

812n

805

+7

627

+185

WOOL MARKET DOES A FIORENTE!

Speaking of the punt, what odds to see the EMI rise by just 3 cents in consecutive sales? That’s what happened as the market edged its way to 1100 cents to sit at 1098. When you tie in this week’s wool sale held on Melbourne Cup day, visiting journalists from Italy and China, a cracking Super-fine selection in Sydney, and a horse with an Italian name winning the Cup, it had to be an omen bet. Our records show that Sydney had not sold on Melbourne Cup day for many a year, as only 2 day sales were needed or Newcastle was selling. We drew Tuesday to show the journalists how a wool sale is conducted and as Fiorente crossed the line, I wondered what the English definition meant. It all made sense as I googled it after the event, to thrive or to blossom, but far too late to get on! Well done Gai!

The fine wool indicators did in fact blossom with 17 to 18 micron lifting 25 to 35 cents by Thursday night. All others posted modest gains, up to 10 cents, with the odd one out being 16.5s, slipping by just 2 cents. Price differentials continue to grow between sound types - 40nkts with low mid-breaks - and tender lots with a high mid-break, the latter losing ground. A trend over the past few weeks is lots up to 3% VM selling as good as FNF types as buyers ignored the VM and some of these making over 1250 cents clean yesterday, about 30 better than the 21 micron indicator! The Italians did pay for style, up to 70 cents for “Spinners” in our catalogue, with some other topmaking lots 20 to 30 cents above indicator levels. 7 lots achieved a 1PP certification with all these selling via private negotiation to Successori Reda Spa of Italy as part of a 150 bale consignment of this type to celebrate their 150 year anniversary of wool processing.

The stylish selection of skirtings followed the fleece lead as there was a lift in values, but not for the types one would think. Maybe the big volume of low VM, finer micron lots were enough to fill buyers’ commitments as they remained solid all sale. The broader, burrier lots, scarce in number, were in good demand as buyers chased these to levels 15 to 25 cents higher than last week. The MCI caught up to Melbourne’s level (now at 812 cents) as an increase in the price of Locks by up to 10 to 25 cents and CRS 5 cents up added to the value of this sector. Crossbreds barely maintained last sale’s levels moving a few cents each way, bar 26 micron falling 21 cents to 770, to be on par with Melbourne. This flat market could be the result of increased quantities as both eastern seaboard centres are now averaging about 20% of their offering as Crossbreds.

National volumes remain at low to mid 40,000 for the 5th sale in a row next week. With the exchange rate under 95 cents we could expect more of the same - good lots with specs in demand and types with faults cheaper.

Ag Concepts Fwd Prices at 08 November

Micron

Date

Low

High

21

05-03-2014

1215

1215

 

 

 

 

Main Buyers (This Week)

1

Techwool

4211

2

QLD Cotton

3491

3

Tianyu Wool

3362

4

Chinatex (Aust)

3089

5

Fox & LIllie

2840

6

Lempriere (Aust)

2577

7

Aust Merino Exp

2286

8

Vic Wool Proc.

1699

9

Donghai Aust.

1180

 

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

1098 cents é  3 cents compared with 01/11/2013                                  0.9479 ê 0.0013 compared with 01/11/2013

 

Northern Market Indicators (AUD cents/kg clean)

1123 cents é  7 cents compared with 01/11/2013

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