IMPORTANT NOTICE:

 

 

AWIS WOOL MARKET REVIEW

Week Ending 22 May 2020 (Week 47)

The AWEX EMI finished at 1155˘, 24˘ lower (-2.0%) in Australian currency and 6˘ lower (-0.8%) in US currency at sales in Sydney, Melbourne and Fremantle in Week 47.

21,101 bales were on offer nationally, compared with 23,371 bales last sale.  12.5% of the offering was passed in after 8.6% of the potential offering was withdrawn prior to sale.  18,455 bales were sold.

AWEX reports that the value of the wool sold was $23.8 million ($1,290 per bale), taking the season total to $1,831 billion ($1,641 per bale).  The number of bales sold at auction this season is now 19.0% less than in 2018/19.

Day-to-Day and Sale-to-Sale Changes in AWEX Regional Indicators (Week 47)

Centre

Last Sale

Day-to-Day Changes (Week 47)

Sale-to-Sale

Closing

Sale-to-Sale Changes

 

Week

Indicator

Tuesday

Wednesday

Thursday

Change

Indicator

US ˘

Euro ˘

Eastern

46

1179

+1

-25

No Sale

-24 (-2.0%)

1155

-6

-12

Northern

46

1230

No Sale

-37

No Sale

-37 (-3.0%)

1193

-14

-20

Southern

46

1147

+2

-17

No Sale

-15 (-1.3%)

1132

0

-6

Western

46

1237

-23

No Sale

No Sale

-23 (-1.9%)

1214

-6

-11

The market got away to a steady start when the Southern Indicator was up by 1˘ on Tuesday, but eased later in the day in the West.  The easing was continued on Wednesday, when the Southern Indicator was down by 17˘.  The Northern Indicator was down by 37˘, but this was by comparison with Tuesday of the previous week when the market had moved up.

Almost all the market movement was among the Merinos, with the Crossbreds unchanged.

Calculation of changes in the average weekly MPGs continues to be difficult with price movements as variable as was seen this week; and when the South sells on both days; and the North and the West each sell on one day.

The US Exchange Rate finished 0.78˘ (1.2%) higher to close at 65.51˘ on Wednesday.

Buyers for China continue their dominance.

In other countries, the South African Cape Wools Indicator was down by 3.1% since the last sale two weeks ago against a 1.8% appreciation of the Rand against the US Dollar.  Sales resumed in New Zealand this week for the first time since mid-March.  7,000 Crossbred bales were offered in a softer market in the North Island.

Looking ahead, offerings for the coming three sales are expected to range from 18,729 bales to 23,643 bales and to be 19.7% less than in the same period last year.  The forecast progressive difference to Week 50 is -12.1%.

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

No 22.0µ MPG

No 22.0µ MPG

No 22.0µ MPG

No 22.0µ MPG

No 22.0µ MPG

 

Market Indicator

Changes From

 

Four Sales Ago
Week 43

Start of
the Season

Week 47
Last Year

Season Average to
Week 47 Last Year

Eastern Market Indicator

-117  (-9.2%)

-584  (-33.6%)

-678  (-37.0%)

-471  (-24.1%)

Western Market Indicator

-144  (-10.6%)

-667  (-35.5%)

-723  (-37.3%)

-522  (-24.8%)

 

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 ˘

-45

-35

-36

-49

-48

-49

-37

-22

+1

 

 

 

Change %

-2.5%

-2.1%

-2.3%

-3.2%

-3.3%

-3.5%

-2.8%

-1.7%

+0.1%

 

 

 

Since Start of the Season

 

 

 

 

 

 

 

 

 

 

Change ˘

-435

-531

-591

-647

-658

-705

-728

-745

-751

 

 

 

Change %

-20.1%

-24.8%

-27.8%

-30.6%

-32.1%

-34.6%

-35.9%

-36.7%

-37.1%

 

 

 

Since Same Week Last Year

 

 

 

 

 

 

 

 

 

 

Change ˘

-606

-701

-765

-809

-792

-810

-843

-858

-848

 

 

 

Change %

-26.0%

-30.3%

-33.2%

-35.5%

-36.2%

-37.8%

-39.3%

-40.1%

-40.0%

 

 

 

 

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 ˘

 

 

-6

0

 

+36

Change %

 

 

-1.0%

0.0%

 

+4.4%

Since Start of the Season

 

 

 

 

Change ˘

 

 

-467

-393

 

-138

Change %

 

 

-44.7%

-46.3%

 

-14.0%

Since Same Week Last Year

 

 

 

 

Change ˘

 

 

-491

-429

 

-179

Change %

 

 

-45.9%

-48.5%

 

-17.4%

MC   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 March 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

1st Time Bales

 

Offering

Offering

Passed-In

Withdrawn
Before Sale

Re-Offered

Bales Sold

 

Bales

%

%

North

6,078

6,302

12.2%

7.2%

9.9%

5,533

 

-47,693

-11.8%

-15.9%

South

12,593

10,417

11.6%

9.1%

19.9%

9,212

 

-105,083

-13.0%

-16.9%

West

4,700

4,382

15.3%

9.7%

14.0%

3,710

 

-26,898

-8.5%

-13.7%

Australia

23,371

21,101

12.5%

8.6%

15.7%

18,455

 

-179,674

-11.7%

-16.0%

 

Next Sale Offerings and Year-on-Year Differences

Centre

Week 48

Week 49

Week 50

Differences

North

5,576

6,534

5,250

-31.3%

South

10,249

12,195

12,543

-18.5%

West

4,534

No Sale

5,850

+4.3%

New Zealand

 

 

 

 

Australia

20,359

18,729

23,643

62,731

Differences

-28.0%

-13.8%

-16.0%

-19.7%

 

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

64.73

-0.18

-0.26

+0.91

+0.31

Public

+0.78  (+1.2%)

65.51

55.71

70.36

Euro

59.66

+0.08

-0.32

+0.31

+0.13

Holiday

+0.20  (+0.3%)

59.86

51.12

62.48

 

Country

% Share of Australia’s Wool Exports by Weight of Wool Shipped

Year-on-Year % Change

 

March
2020

July to March
2019/20

July to March
2018/19

July to March

By Weight

By Value

China

78.9%

76.7%

76.0%

-15.5%

-32.0%

India

7.4%

6.5%

6.1%

-9.5%

-26.3%

Italy

3.0%

4.9%

5.3%

-22.8%

-38.7%

Czech Republic

5.2%

4.1%

4.0%

-12.6%

-29.2%

Korea

1.5%

2.0%

2.5%

-33.6%

-43.9%

Egypt

0.8%

1.2%

1.0%

+1.3%

-20.7%

Thailand

0.6%

0.9%

0.9%

-21.5%

-43.9%

Bulgaria

0.5%

0.6%

0.4%

+24.9%

+25.4%

Change all Countries

 

 

 

-15.9%

-32.4%

 

 


 

Next Three Sales

Week Number           Commencing                             Selling Centres                                Bales

48                      25 May 2020                   Sydney, Melbourne and Fremantle                  20,359

49                      1 June 2020                           Sydney and Melbourne                          18,729

50                      8 June 2020                   Sydney, Melbourne and Fremantle                  23,643

© AWIS 2020 (for permission to reprint, in part or whole, please contact this office)

 

 

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