Weekly Market Reports


8 September 2017

admin Macwool - Friday, September 08, 2017

WEEKLY MARKET REPORT

Week Ending 8th September, 2017

AWEX Northern Micron Indices Comparison 

AWEX INDEX

This Week

S10/17

This Week

M10/17

Last Sale

S09/17

Sydney

Change

Last Year

Sydney

Sydney Yearly

Change

17

2273

2263

2315

-42

1593

+680

18

2139

2122

2186

-47

1561

+578

19

1839

1848

1838

+1

1498

+341

20

1646

1646

1643

+3

1460

+186

21

1597

1588

1598

-1

1445

+152

22

1523n

1509n

1518n

+5

1436n

+87

26

1141

1135n

1125

+16

1167n

-26

28

852

836

848

+4

771

+81

30

636

625

633

+3

619n

+17

MC

1089n

1086

1086n

+3

1049

+40

MARKET FLATTENS OUT!

The market flattened out this week as the AWEX EMI moved by the barest of margins on both days, down by 1 cent each day, a 2 cent fall for the series to 1556. The lift in the A$ to over 80 cents saw the numbers move ahead in US$ terms by 12 cents to 1243. The market again looked to split into 2 as it did the previous sale but not in the same pattern as finer types - < 18.5 - fell out of favour to the tune of 20 to 50 cents undoing all the good work of last sale. The broader microns on offer from 19 to 23 were quoted in sellers’ favour by up to 10 cents (clawing back some of the 20 to 40 cent losses from last sale). Perhaps it was the lesser style finer types that were on offer this week and the rise in the FRX that weighed the market down and had buyers pulling back their price idea for sub 18.5 microns - this a disappointment to growers that missed last week’s sale.

The scenario was almost a carbon copy for merino skirtings with the fleece room. The better style low VM types, < 17.5 micron and 3% VM fell by 20/30 cents. The broader, burrier lots (over 18 micron and 5% VM), after a sluggish opening session, gained momentum to end the sale about 10 cents dearer. Cardings halted their falling trend by the barest of margins to have most types in this sector up to 5 cents to the good. Crossbreds also reversed their falling trend of last sale (bar 25s) losing 10 cents as all other microns from 26 to 32 added 5 to 15 cents.

A sale of consolidation as (bar the fine fleece and skirtings being readjusted by the exporters) other sectors were pretty much unchanged despite the A$ climbing to over 80 cents a few times this week. Fine wools again demonstrated how fickle they can be - flavour of the month one week and almost neglected the next! Quantity has had no bearing on price movement, rather quality and FRX movements look to be dictating price. Early in the year all the talk was of the A$ drifting lower to below 70 cents. This certainly has not been the case as now the $ looks settled around the 80 cent mark and, with every new development coming out of Nth Korea, stock markets get nervous and react to what might be on the horizon.

Ram sales are in full swing with excellent results being reported. Coddington Uardy Poll at Wellington was 1st cab off the rank with a top price of $9,500 to average $1,933 for 108 rams sold. Kerin Poll at Yeoval broke some national records at their ram sale. All 359 rams penned were sold to average $2,457 - $211 higher than last year. The top price was $26,000 and the sale grossed an incredible $882,000. Haddon Rig sold a combination of Poll and Horned rams to sell 145 in total to average $2,638.

Ag Concepts Fwd Prices at 8 September 2017

Micron

Date

Low

High

21

25-Oct-17

1560

1560

21

13-Dec-17

1520

1520

Main Buyers (This Week)

1

Fox & Lillie 

5120

2

Techwool

3717

3

Lempriere Aust.

3488

4

Aust Merino Exp.

3327

5

PJ Morris Wool

2673

6

Seatech Ind.

2164

 

Eastern Market Indicators (AUD cents/kg clean)

1556 cents ê 2 cents compared with 01/09/2017

Northern Market Indicators (AUD cents/kg clean)

1628 cents ê 8 cents compared with 01/09/2017

AUD/USD Currency Exchange

0.7991 é 0.0090  compared with 01/09/2017

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