Weekly Market Reports


9 November 2018

admin Macwool - Friday, November 09, 2018

WEEKLY MARKET REPORT

Week Ending 9th November, 2018

 AWEX Northern Micron Indices Comparison

AWEX INDEX

This Week

S19/18

This Week

M19/18

Last Sale

S18/18

Sydney

Change

Last Year

Sydney

Sydney Yearly

Change

17

2495

2387

2555

-60

2488

+7

18

2318

2207

2377

-59

2283

+35

19

2109

2107

2238

-129

2005

+104

20

2050

2056n

2153

-103

1764

+286

21

2043

2064n

2139

-96

1645

+398

22

-

2100n

-

-69 (M)

1560 (M)

+540 (M)

26

1143n

1119

1189n

-46

1103

+40

28

745n

751

778

-33

815

-70

30

636n

670

661n

-25

616

+20

MC

1020

1045n

1045

-25

1348n

-328

THE END OF AN ERA AT AWI

AWI Chairman, Wal Merriman announced today that he had stood down as Chairman of the company after 13 years in the top job. His decision came just prior to the AGM in two weeks time to allow the incoming Chair, Colette Garnsey, time to prepare for the next busy year. Wal’s contribution has been enormous and one hopes his tenure is remembered as one who steered and guided the company back into marketing and putting wool back on the stage in the world fashion industry. He leaves his position with the company in a strong financial position with a list of many significant achievements for the wool grower shareholders.

It seems nothing at the moment can influence the buyers into a positive change of sentiment as the market lurched further into negative territory. Each region recorded similar losses (74 to 82 cents) as the AWEX EMI retreated to the tune of 78 cents to 1776. In US$ terms the fall was not as severe, a 29 cent fall to 1293 this due the FRX ascending against the A$ by 1.5 cents. Even though falls were across the board, fortunes were reversed from the previous few sales as the < 18.5 micron escaped the bigger losses of their broader counterparts (45 to 70 cents) as 19 and coarser collapsed by 95 to 130 cents - a sign that the gap between the fine and broad microns was too close as in the past few sales the <19 micron have been falling dramatically and broader types not so. Only the very best style lots with good length and strength results escaped the carnage giving up 20/40 cents.

Skirtings also came under the pump as losses across all microns, VM, styles and lengths totaled another 50 to 100 cents. Cardings again copped a caning as some buyers were still sitting on the side-lines as all types in this sector were quoted 60 to 100 cents behind the previous series. Crossbreds took reasonable hits as well with a cut-off point around 26 micron. Finer than this the falls ranged from 50 to 100 cents while coarser types were adjusted down by 20/30 cents.

After last series relatively minor falls talk of the falling market reversing its fortunes was widespread. That was until the FRX shifted in favour of the 3 major wool trading destinations as the A$ jumped and buyers let the market freefall again. Talk is still strong that the market is very close to the bottom.

Ag Concepts Fwd Prices at 9 November 2018

Micron

Date

Low

High

21

23-Jan-19

1980

1980

21 8-May-19  1910 1910 

Main Buyers (This Week)

1

Endeavour Wool

2548

2

Fox & Lillie

2531

3

Tianyu Wool

2411

4

Techwool

2383

5

Seatech Ind.

2094

6

PJ Morris

1823

7

Aust. Merino

1507

8

Michell Aust.

714

9

G Schneider

668

Eastern Market Indicators (AUD cents/kg clean)

1776 cents ê 78 cents compared with 2/11/2018

Northern Market Indicators (AUD cents/kg clean)

1809 cents ê 82 cents compared with 2/11/2018

AUD/USD Currency Exchange

0.7278 é 0.0149 compared with 2/11/2018

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