IMPORTANT NOTICE:

 

 

AWIS WOOL MARKET REVIEW

Week Ending 21 February 2020 (Week 34)

The AWEX EMI finished 13˘ higher (+0.8%) in Australian currency and 3˘ lower (-0.3%) in US currency at sales in Sydney, Melbourne and Fremantle in Week 34.

The fall in the $A helped.  However, it was a good week for the wool market at a time of ongoing uncertainty.

39,018 bales were on offer nationally, compared with 40,176 bales last sale.  11.3% of the offering was passed in after 7.5% of the potential offering was withdrawn prior to sale.

AWEX reports that the value of the wool sold was $61.3 million ($1,771 per bale), taking the season total to $1.386 billion ($1,710 per bale).  The number of bales sold at auction this season is now 16.5% less than in 2018/19.

The New Zealand Merino Company also offered 1,873 bales in Melbourne on Tuesday, of which 10.3% were passed in.

Day-to-Day and Sale-to-Sale Changes in AWEX Regional Indicators (Week 34)

Centre

Last Sale

Day-to-Day Changes (Week 34)

Sale-to-Sale

Closing

Sale-to-Sale Changes

 

Week

Indicator

Tuesday

Wednesday

Thursday

Change

Indicator

US ˘

Euro ˘

Eastern

33

1568

No Sale

+6

+7

+13 (+0.8%)

1581

-3

+5

Northern

33

1604

No Sale

+8

+6

+14 (+0.9%)

1618

-2

+4

Southern

33

1546

NZM only

+4

+8

+12 (+0.8%)

1558

-3

+3

Western

33

1667

No Sale

+20

+23

+43 (+2.6%)

1710

+17

+22

There was good competition that led to gains across all AWEX Merino, and the 26 and 28 Micron crossbred, Price Guides on both Wednesday and Thursday.

The US Exchange Rate finished 0.69˘ (-1.0%) lower to close at 66.50˘ on Thursday, after further speculation about another cut in interest rates.  It is now at its lowest closing level for the season and under 67˘ for the first time.

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

In other countries, the South African Cape Wools Indicator was up by 2.0% since last week against a 1.2% depreciation of the Rand against the US Dollar and a 0.4% depreciation against the Euro.

Looking ahead, offerings for the coming three sales are expected to range from 34,933 bales to 44,091 bales and to be 14.7% less than in the same period last year.  The forecast progressive difference to Week 37 is -10.7%.

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

94˘

174˘

244˘

289˘

380˘

 

Market Indicator

Changes From

 

Four Sales Ago
Week 30

Start of
the Season

Week 34
Last Year

Season Average to
Week 34 Last Year

Eastern Market Indicator

+5  (+0.3%)

-158  (-9.1%)

-446  (-22.0%)

-404  (-20.6%)

Western Market Indicator

+25  (+1.5%)

-171  (-9.1%)

-451  (-20.9%)

-451  (-21.4%)

 

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 ˘

+19

+24

+26

+16

+21

+23

+25

+24

+33

 

 

 

Change %

+0.9%

+1.2%

+1.3%

+0.8%

+1.1%

+1.3%

+1.4%

+1.3%

+1.9%

 

 

 

Since Start of the Season

 

 

 

 

 

 

 

 

 

 

Change ˘

+3

-64

-115

-163

-175

-196

-204

-217

-229

-245

 

 

Change %

+0.1%

-3.0%

-5.4%

-7.7%

-8.5%

-9.6%

-10.0%

-10.7%

-11.3%

-12.0%

 

 

Since Same Week Last Year

 

 

 

 

 

 

 

 

 

 

Change ˘

-461

-505

-533

-557

-539

-543

-542

-548

-544

-517

 

 

Change %

-17.5%

-19.5%

-20.9%

-22.2%

-22.3%

-22.8%

-22.9%

-23.2%

-23.3%

-22.4%

 

 

 

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 ˘

 

+7

+23

-3

-7

+1

Change %

 

+0.6%

+2.7%

-0.5%

-1.7%

+0.1%

Since Start of the Season

 

 

 

 

Change ˘

 

-196

-157

-190

-181

+139

Change %

 

-14.6%

-15.0%

-22.4%

-30.7%

+14.1%

Since Same Week Last Year

 

 

 

 

Change ˘

 

-269

-261

-321

-168

-65

Change %

 

-19.0%

-22.7%

-32.8%

-29.2%

-5.5%

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 December 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

7,922

7,793

7.0%

4.0%

13.8%

7,245

 

-30,918

-10.5%

-14.2%

South

21,474

18,983

12.3%

9.7%

10.6%

16,647

 

-73,898

-13.1%

-16.1%

West

10,780

12,242

12.5%

6.2%

13.0%

10,715

 

-4,233

-2.0%

-7.5%

Australia

40,176

39,018

11.3%

7.5%

12.0%

34,607

 

-109,049

-10.2%

-13.9%

 

Next Sale Offerings and Year-on-Year Differences

Centre

Week 35

Week 36

Week 37

Differences

North

11,188

7,796

8,630

-12.8%

South

21,754

18,385

18,925

-19.4%

West

11,149

8,752

8,400

-5.4%

New Zealand

 

 

 

 

Australia

44,091

34,933

35,955

114,979

Differences

-9.9%

-22.6%

-11.8%

-14.7%

 

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

67.19

0.00

+0.06

-0.33

+0.04

-0.46

-0.69  (-1.0%)

66.50

66.50

70.36

Euro

61.82

+0.20

+0.03

-0.26

+0.22

-0.43

-0.24  (-0.4%)

61.58

60.42

62.48

 

Country

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

Year-on-Year % Change

 

December
2019

July to December
2019/20

July to December
2018/19

July to December

By Weight

By Value

China

76.1%

76.8%

74.7%

-12.9%

-32.4%

India

7.6%

6.2%

6.7%

-22.2%

-37.0%

Italy

5.1%

5.8%

6.1%

-19.3%

-37.0%

Czech Republic

3.0%

3.1%

3.8%

-30.2%

-48.6%

Korea

2.5%

2.1%

3.0%

-35.6%

-46.8%

Egypt

1.1%

1.3%

0.9%

+21.9%

-5.2%

Thailand

1.0%

0.9%

1.1%

-25.4%

-47.5%

Taiwan

0.8%

0.6%

0.8%

-28.2%

-49.8%

Change all Countries

 

 

 

-15.4%

-34.1%

 

Next Three Sales

Week Number           Commencing                             Selling Centres                                Bales

35                  24 February 2020               Sydney, Melbourne and Fremantle                  44,091

36                     2 March 2020                  Sydney, Melbourne and Fremantle                  34,933

37                     9 March 2020                  Sydney, Melbourne and Fremantle                  35,955

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

 

 

AWIS WOOL MARKET

REVIEW ARCHIVES

(Week Ending)

21 February 2020

14 February 2020

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13 December 2019

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29 March 2019

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25 January 2019

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2 November 2018

26 October 2018

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