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IMPORTANT NOTICE:

AWIS WOOL MARKET REVIEW

Week Ending 14 December 2018 (Week 24)

The AWEX EMI finished 13¢ higher (+0.7%) in Australian currency and 9¢ higher (+0.7%) in US currency at sales in Sydney, Melbourne and Fremantle this week.

They were the last sales prior to the three-week Christmas break.

46,003 bales were on offer nationally, compared with 37,410 bales last sale. 7.6% of the offering was passed in.

It was the largest offering since the 49,415 bales offered in the first sale after the mid-year break.

AWEX reports that the value of the wool sold was $83.8 million ($1,970 per bale), taking the season total to $1.550 billion ($2,262 per bale).

Day-to-Day and Sale-to-Sale Changes in AWEX Regional Indicators (Week 24)
Centre	Last Sale		Day-to-Day Changes (Week 24)			Sale-to-Sale	Closing	Sale-to-Sale Changes
	Week	Indicator	Tuesday	Wednesday	Thursday	Change	Indicator	US ¢	Euro ¢
Eastern	23	1849	+3	+7	+3	+13 (+0.7%)	1862	+9	+7
Northern	23	1897	No Sale	+2	+7	+9 (+0.5%)	1906	+6	+4
Southern	23	1818	+6	+9	+1	+16 (+0.9%)	1834	+11	+8
Western	23	2009	No Sale	+10	+12	+22 (+1.1%)	2031	+16	+12

The market closed on a positive note with gains across all microns ranges and wool types, other than the fine Crossbreds and the Oddments (particularly on Wednesday, when the average Merino Cardings Price Guide fell by 33¢.). The greatest gains were spread fairly evenly across the Merinos, with the greatest gains from 17 to 20 microns.

The US Exchange Rate was unchanged, to close at 72.26¢ on Thursday.

Buyers for China were dominant, with support from buyers for Europe and India.

Looking ahead, the market has finished on a good basis going into the Christmas break, despite the larger number of bales on offer. Although the EMI is 126¢ less than at the start of the season, it is 102¢ greater than at the end of Week 24 last year. It is a similar pattern with the individual Micron Price Guides.

Sales will resume in the week commencing 7 January (Week 28).

Differences in AWEX MPGs	18.5 and 22.0	18.0 and 22.0	17.5 and 22.0	17.0 and 22.0	16.5 and 22.0
North	No 22.0µ MPG	No 22.0µ MPG	No 22.0µ MPG	No 22.0µ MPG	No 22.0µ MPG
South	153¢	216¢	280¢	345¢	393¢

Market Indicator	Changes From
	Four Sales Ago Week 20	Start of the Season	Week 24 Last Year	Season Average to Week 24 Last Year
Eastern Market Indicator	+81 (+4.5%)	-126 (-6.3%)	+102 (+5.8%)	+366 (+22.9%)
Western Market Indicator	+96 (+5.0%)	-111 (-5.2%)	+215 (+11.8%)	+463 (+28.1%)

Sale-to-Sale Changes in Average AWEX Merino Micron Price Guides (MPGs)
Micron	16.5	17.0	17.5	18.0	18.5	19.0	19.5	20.0	21.0	22.0	23.0	24.0
Since Last Sale
Change ¢	+28	+37	+35	+34	+45	+40	+32	+38	+27	+15
Change %	+1.1%	+1.5%	+1.4%	+1.4%	+2.0%	+1.8%	+1.5%	+1.8%	+1.3%	+0.7%
Since Start of the Season
Change ¢	-443	-282	-158	-54	-25	-36	-58	-71	-93	-95	-98	-314
Change %	-14.7%	-10.1%	-6.0%	-2.2%	-1.1%	-1.6%	-2.6%	-3.2%	-4.1%	-4.3%	-4.4%	-14.8%
Since Same Week Last Year
Change ¢	-80	-13	+23	+83	+105	+168	+212	+308	+408	+502	+567	+369
Change %	-3.0%	-0.5%	+0.9%	+3.6%	+4.8%	+8.1%	+10.7%	+16.4%	+23.4%	+30.7%	+35.8%	+25.6%

Sale-to-Sale Changes in Other Average AWEX Price Guides
Micron	25.0	26.0	28.0	30.0	32.0	MC^#
Since Last Sale
Change ¢		-8	+6	+10	+4	-43
Change %		-0.7%	+0.7%	+1.4%	+0.9%	-3.7%
Since Start of the Season
Change ¢	-440	-327	-100	+26	+8	-340
Change %	-24.1%	-21.2%	-10.4%	+3.8%	+1.8%	-23.1%
Since Same Week Last Year
Change ¢	+124	+96	+65	+108	+35	-355
Change %	+9.8%	+8.6%	+8.2%	+18.2%	+8.3%	-23.9%
# Average Merino Cardings Price Guide

The following tables show the details of this week's sale offering; the expected offerings over the next three sales; the changes in Exchange Rates since the previous sale; and highlights from the October ABS export data.

Details of this Week’s Offering and the Comparison with the Previous Sale’s Offering							Progressive Changes from Last Year
Centre	*Last Sale*	This Sale					All Bales		1^st Time Bales
	*Offering*	Offering	Passed-In	Withdrawn Before Sale	Re-Offered	Bales Sold	Bales	%	%
North	9,680	12,212	7.3%	5.0%	4.2%	11,317	-53,721	-19.4%	-19.7%
South	19,002	25,162	7.6%	4.3%	6.0%	23,250	-83,422	-17.2%	-18.1%
West	8,728	8,629	7.7%	2.3%	8.6%	7,962	-31,289	-18.0%	-21.0%
Australia	*37,410*	46,003	7.6%	4.1%	6.0%	42,529	-168,432	-18.0%	-19.1%

Next Sale Offerings and Year-on-Year Differences
Centre	Week 25	Week 26	Week 27	Differences
North	No Sale	No Sale	No Sale
South	No Sale	No Sale	No Sale
West	No Sale	No Sale	No Sale
New Zealand
Australia
Differences

Exchange Rates	Last	Day-to-Day Changes					Sale-to-Sale	Closing	Season Min & Max
(Reserve Bank)	Sale	Fri	Mon	Tues	Wed	Thur	Change	Value	Min	Max
United States	72.26	+0.07	-0.12	-0.16	+0.10	+0.11	0.00 (0.0%)	72.26	70.72	74.41
Euro	63.68	-0.09	-0.41	+0.19	+0.33	-0.12	-0.10 (-0.2%)	63.58	61.17	64.24

Country	% Share of Australia’s Wool Exports by Weight of Wool Shipped			Year-on-Year % Change
	October 2018	July to October 2018/19	July to October 2017/18	July to October
	October 2018	July to October 2018/19	July to October 2017/18	By Weight	By Value
China	78.2%	75.6%	77.1%	-17.6%	+12.5%
India	6.9%	6.6%	6.3%	-12.4%	+11.5%
Italy	6.0%	6.3%	5.3%	-0.5%	+21.9%
Czech Republic	2.4%	3.2%	5.0%	-48.4%	-21.1%
Korea	1.8%	2.8%	1.3%	+75.4%	+138.4%
Malaysia	0.9%	0.8%	1.3%	-45.9%	-36.7%
Egypt	0.8%	1.0%	1.0%	-19.8%	-2.3%
Taiwan	0.6%	0.9%	0.6%	+16.7%	+97.1%
Change all Countries				-20.7%	+8.2%