Weekly Market Reports


9 September 2011

admin Macwool - Friday, September 09, 2011

WEEKLY MARKET REPORT

Week Ending 9th September, 2011

Northern Micron Indices Comparison: Source of information: AWEX

AWEX
INDEX

This Week
09/09/11

Last Week
02/09/11

Change

Last Year
08/09/10

Yearly
Change

18

1848

1827

+21

1232

+616

19

1594

1567

+27

1062

+532

20

1429

1382

+47

917

+512

21

1372

1338

+34

893

+479

22

1296

1276n

+20

870

+426

23

1180n

1175n

+5

852

+328

24

1052 (M)

1015 (M)

+37

808

+244

26

857 (M)

831 (M)

+26

606

+251

28

688

688

0

452

+236

30

634

632

+2

398

+236

32

580n

581n

-1

353

+227

MC

731

705

+26

562

+169

MARKET RECOVERS SOME LOST GROUND

Our prediction of a dearer market rang true as the past two weeks of consolidation led to a solid basis for a reasonable volume of wool to be traded. Most exporters booked up wool late last week and early this week and this, coupled with the falling exchange rate, augured well for a rise in the market. The market was off to a flying start on Wednesday as most indicators recorded 10 to 35 cent gains. The finer indicators (finer than 17.5) failed to fire to finish in buyers’ favour. The rises weren’t as pronounced on the final day of trading with gains of up to 10 cents. Most notable was the shrinking discounts for VM and colour and cott. Some of our fleece lots with colour and soft cott made up to 20 cents clean more than same micron lots with the only fault being VM. One buyer we spoke to thought the discounts for VM in the 2 to 5 % range had halved with big volumes of these types being booked up over the past few days. This week’s rising market saw us sell every lot, our first 100% clearance. 57% of our fleece lots made over 1000 cents with the average greasy price for fleece wool in Sydney this week at 1079 c/kg. This compares favourably with Melbourne - their fleece price was 896 cents - despite the Sydney offering just 0.9 micron finer than Melbourne’s selection. The highlight was the 25 micron indicator in Melbourne climbing a massive 82 cents.

The good gains weren’t confined to the fleece room as skirtings pushed higher on both days. By the close of trade all types and VM levels looked to be 30 to 40 cents up on last week. We had three lots that made over 1000 cents with two lots of Nyngan BKN averaging 610 cents with LKS from Yeoval making 513 cents - a great result! Cardings also pushed higher as the MCI lifted by 26 cents. Locks and Crutchings added 20 to 30 cents while Stains performed the best in this sector with 35 to 40 cent rises. Crossbreds took a breather this week and remained virtually unchanged bar the finer end with 25s mentioned earlier and 26 microns posting a 25 cent rise.

The cycle of upward prices looks to have started again as the EMI added 24 cents to sit at 1294 cents. This rise follows on from the poor start to the resumption of sales after the July recess. The opening two weeks saw the EMI fall 98 cents with the next three sales (including this week) claw back 31 cents. Next week’s action moves to Newcastle as they host their first sale of this season. 15,000 bales are rostered with a sprinkling of superfine clips on offer to test demand for this sector of the market. Growers should notice a big difference in prices as some of these types have nearly doubled in value in 12 months. Our new wool store is nearing completion as the shed is practically finished and the office is being built at a rapid rate. Photos are on the website to check progress of construction.     

AgRisk FDIC Indicative Quotes 09/09/11

20

21

22

AUCTION

1420.5

1367.5

1286.5

Oct-11

1394

1355

1289

Dec-11

1364

1325

1259

Feb-12

1303

1264

1198

Apr-12

1258

1219

1153

Jun-12

1229

1190

1124

Aug-12

1219

1180

1114

Oct-12

1187

1148

1082

Dec-12

1154

1115

1049

MAJOR AUCTION BUYERS (Bales)

1

Viterra Wool

5278

2

Fox & Lillie

3130

3

Lempriere (Aust)

2710

4

QLD Cotton

2667

5

Techwool Trading

2517

6

Chargeurs Wool

1923

7

Williams Wool

1767

8

PJ Morris

1546

9

AS Gedge (Aust)

1506

                       

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

Eastern 1294 cents (é24) compared with 02/09/11                                                1.0598 ê 0.0099 compared with 02/09/11

Northern Market Indicators (AUD cents/kg clean)

Northern 1344 cents (é25) compared with 02/09/11

Comments
Post has no comments.
Post a Comment





Trackback Link
http://www.macwool.com.au/BlogRetrieve.aspx?BlogID=4383&PostID=249326&A=Trackback
Trackbacks
Post has no trackbacks.