Americas. Australia. New Zealand. United Kingdom. Market Report May 23rd

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1 W T Wool in Market Report May 23rd 2016 Australia Americas Go to text Go to tables Go to tables New Zealand United Kingdom Go to text Go to tables Go to tables South Africa China Go to text Go to tables Go to tables Exchange Rates Next Sales If you would like to place a banner advertisement in the Wool Market Report, please contact James Wilson at jwilson@wtin.com

2 Wool Market Report May 23rd 2016 AUSTRALIA Market not as strong but still positive Anticipation of how central banks in Australia and the United States will set interest rates in the coming months seems to be putting downward pressure on the Australian dollar which fell again this week to close at US cents. The currency, which has fallen 8% in the past month, appears to be a major factor affecting the Australian Wool market with the weaker currency keeping wool prices buoyant. The market had two fairly unanimated selling days across all centres pushing the AWEX Eastern Market Indicator to 1291 to finish the week 4 cents higher. The true effect of the currency movements on the wool market is revealed when looking at the EMI in USD terms. Anyone selling wool in to the US market is doing well at the moment with the AUD:US exchange rate down. Despite the modest increase in AUD terms the EMI finished a noteworthy 14 cents lower on a USD basis. The fifth largest Merino Fleece offering for the season found good demand across most microns but it was the stylish lots with high NKT results which attracted the most support and as a result continued to sell at a premium. A noticeable increase in vegetable matter (VM) levels compared to this time last year has created significant demand for all low level VM types. It has been an interesting week for the Australian wool market this week. After three weeks of good demand, the market was not as positive as it has been, although the market was still strong. Fleece lots with less than 1% VM are becoming increasingly sparse and as a result are selling at a premium to the higher VM lots. Skirtings followed a similar trend to the fleece market with low VM lots keenly sought after. Shorter, high VM lots (up to 8%) enjoyed more robust competition as buyers struggled with the limited quantity of the longer low VM types, however very high VM (12%) types maintained their recent discounts. The Australian Wool Exchange (AWEX) Eastern Market Indicator (EMI) was up by 4 cents (0.3%) for the week to close on 1,291 cents per kilo clean on Thursday, 19 May. Sales were held at all three selling centres on Wednesday, May 18 and Thursday, May 19. On Wednesday the EMI lifted 2 cents to 1,289 cents but fell by 7 cents in US dollar terms to 938 US cents. On Thursday, the EMI climbed by a further 2 cents to 1,291 cents but fell by a further 7 cents in US dollar terms to 931 US cents. Best style crossbreds continue to reduce in number and the limited supply finished the week fully firm. Merino Cardings received significant buyer support on a limited offering rising around 10 cents for the week. Principal competition has once again come from China this week, with India and Korea also showing strong competition. However, Europe has proved quieter this week. Pressure was taken off the buyers as farmers and agents brought out stored wool to bring back on the market, with the amount of bales jumping to over 42,000, on par with last week s prediction. Next week, with Fremantle not trading, 29,940 bales are forecast to be available. The following week, around 36-37,000 bales are expected to be available. 2

3 Wool Market Report May 23rd 2016 NEW ZEALAND North Island wool well supported shorter shears 5-6% stronger. First Lambs ranged from 1.5% cheaper to 1.5% dearer. Limited competition with Australasia and Western Europe dominating, supported by China, India, the Middle East and the United Kingdom. Source: Wool Services International SOUTH AFRICA Market trading increases A slightly weaker New Zealand dollar and a wider range of better styled wools this week saw the market well supported in some sectors. Of the 7,000 bales on offer, 76% sold with some growers holding out for better levels, particularly in the Lambs Fleece area. The weighted indicator for the main trading currencies compared to last week was down 0.57% aiding local price levels. The wool market traded 6.5% higher this week and the Cape Wools Merino Indicator increased by 996 points to close at a value of R (Clean). The Cape Wools All Wool Indicator gained 6.5%. At this week s auction there was good quality wool on offer, with the majority of wool again between 40-55mm in length. Buyers commented that there was extreme competition for the longer and better quality wools. There are two auctions left for this season. Compared to last week s less stylish North Island (Napier) selection: Fine Crossbred Fleece were nominally firm with shears 2-4% dearer. Good colour Coarse Crossbred Full Fleece were firm with average and poor styles 3-6% dearer. Longer Coarse Shears were 3.5-6% firmer with This week saw the rand at R15.77 to the US dollar. The rand weakened by 6.9% against the US dollar compared with the average rate at the previous sale. The rand weakened 4.8% against the Euro, trading at R The offering comprised of 8412 bales of which 97.3% was sold. Major traders were Standard Wool SA (2,772), G Modiano SA (2,219), Lempriere SA (1,721) and Stucken & Co (996). 3

4 Wool Market Report May 23rd 2016 The average clean prices for the selection within the different micron categories for good top-making (MF5), long fleeces were as follows: 18.0 microns gained 5.4% to close at R177.76/kg; 18,5 microns increased 7.0% to close at R173.12/kg; 19 microns increased 7.7% to close at R171.30/kg; 19.5 microns gained 8.5% to close at R169.41/kg; 20 microns increased with 7.7% to close at R168.40/kg; 20.5 microns increased 6.8% to close at R167.53/kg; 21.0 microns gained 6.9% to close at R167.48/kg; 21.5 microns gained 6.1% to close at R163.86/kg; 22.0 microns increased 6.2% to close at R163.48/kg and 22.5 microns increased 7.3% to close at R164.77/kg. Analytics Digital Textiles Make Informed Business Decisions Delivers the industry insight, market information, and connections you need to evaluate and respond to the market trends. Source: Cape Wools Expert presentations Access hours of HD quality video presen tations from KOLs across the market, recorded at WTiN s Digital Textile Conferences. Insight Look behind the headlines at the strategies shaping the industry s development. Market tracker Access to the most accurate assessment of the size & trends of the digital textile printing market globally for more information, visit wtin.com Copyright World Textile Information Network Ltd All rights reserved. WTiN and World Textile Information Network are registered trademarks. 4

5 Wool Market Report - Price Directory May 23rd 2016 AUSTRALIA AWEX REGIONAL INDICATORS Australian cents/kg, clean, Schlumberger dry. Season 2014/15 Season 2015/16 Region May 11 May 12 May 18 May 19 Opening High Low Opening High Low Year ago Northern Sydney 1,311 1,318 1,320 1,322 Northern 1,027 1,397 1,017 1,259 1,323 1,240 1,274 Southern Melbourne 1,264 1,268 1,268 1,270 Southern 1,014 1, ,225 1,292 1,210 1,222 Western Fremantle 1,372 1,383 1,375 1,375 Western 1,065 1,428 1,042 1,273 1,355 1,254 - Eastern Market Indicator (EMI) 1,282 1,287 1,289 1,291 Eastern 1,018 1,373 1,001 1,238 1,304 1,222 1,242 AWEX REGIONAL MICRON PRICE GUIDES Australian cents/kg, clean, Schlumberger dry. Northern Region - (Sydney) Southern Region - (Melbourne) Western Region - (Fremantle) Micron May 11 May 12 May 18 May 19 Micron May 11 May 12 May 18 May 19 Micron May 11 May 12 May 18 May ,583n 1,593n 1,598 1, ,553n 1,564n 1,559n 1,559n ,570 1,573 1,583 1, ,552 1,563 1,558 1, ,563 1,575 1,576 1, ,546 1,557 1,554 1, ,533n 1,548n 1,542n 1,548n 18 1,544 1,556 1,556 1, ,525 1,537 1,536 1, ,522n 1,533n 1,517n 1,527n ,519 1,534 1,535 1, ,501 1,511 1,511 1, ,506 1,522 1,511 1, ,498 1,511 1,506 1, ,484 1,495 1,495 1, ,481 1,497 1,497 1, ,473 1,478 1,477 1, ,459 1,467 1,467 1, ,472 1,473 1,472 1, ,438 1,438 1,438 1, ,425 1,425 1,425 1, ,433 1,436 1,435 1, ,413 1,413 1,408 1, ,402 1,401 1,403 1, ,391 1,396 1,386 1, ,392n 1,387n 1,386 1,386n 22 1,379 1,375n 1,376 1, ,371n 1,372n 1,366n 1,361n 23 1,362n 1,357n 1,357n 1,357n 23 1,355n 1,355n 1,355n 1, ,359n ,171n 25 1,139n 1,164n 1,184n 1,188n ,090n 26 1,056n 1,061n 1,084n 1,090n n 798n n 684n 686n 696n n 683n n - 599n n 587n MC 1,065 1,082 1,083 1,089 MC 1,068 1,072 1,078 1,088 MC 1,058n 1,074n 1,080n 1,088n SOURCE: AUSTRALIAN WOOL EXCHANGE (AWEX) NEW ZEALAND NEW ZEALAND WOOL SERVICES INDICATORS NZ cents per kg, clean Merino Mid Micron Fine Xbred Coarse Xbred Lamb Week 39 23/03/16 N/A N/A Week 40 31/03/16 N/A N/A Week 41 07/04/16 N/A N/A Week 42 14/04/16 N/A N/A Week 43 21/04/16 N/A N/A Week 44 28/04/16 N/A N/A Week 45 05/05/16 N/A N/A SCHNEIDER FINE WOOL INDEXES Each Index represents a market quotation, based on Australian dollars,for a selected range of types. The Indexes are not price expressions. Micron 28-Apr 05-May 12-May 15 1,669 1,700 1, ,585 1,584 1, ,509 1,562 1, ,482 1,512 1, ,374 1,417 1,450 SOURCE: SCHNEIDER GROUP Week 46 12/05/16 N/A N/A Week 47 19/05/16 N/A N/A SOURCE: NEW ZEALAND WOOL SERVICES INTERNATIONAL 5

6 Wool Market Report - Price Directory May 23rd 2016 SOUTH AFRICA CAPE WOOLS OVERALL MERINO INDICATOR SA cents/kg. clean May 17 & 18 NANJING WOOL MARKET Average greasy wool prices, ex-warehouse in yuan per tonne Product China Type Micron August 13 August 6 Change Australian T54PPPFNF (100S) ,200 81, Combed Australian Carbonized Australian New Zealand Combed New Zealand CHINA May 3 & 4 % change high 2015/16 Season T54PPFNF (90S) ,800 77, T54PFNF (80S) ,000 76, T54FNF (70S) ,000 75, T55FNF 21 77,000 73, T56FNF ,000 71, T58FNF ,500 68, T423FNF ,500 57, T424FNF ,500 51, T425FNF ,000 42, S , , S , , S ,200 96, S ,000 91, S ,500 89, S 21 89,500 86, S ,000 84, S ,000 79, S ,000 69, S ,000 59, S 21 72,000 72, S ,000 68, T " ,800 40, T " ,600 38, T " 34/36 35,300 35, S ,000 58, S ,000 50, /50S ,500 45, Uruguary 60S 24 70,000 70, S ,600 57, S ,300 52, Domestic 70S ,400 80, S 21 75,800 75, S ,100 67, S 24 62,100 62, SOURCE: NANJING WOOL MARKET 2015/16 Average to date 2014/15 Average to date 16,306 15, ,306 12,163 14,183 11,450 low % CAPE WOOLS FLEECE WOOL PRICES Spinners and good topmaking styles, AWEX types MF4 and MF5. Fibre Length measurements in millimetres. SOUTH AFRICAN MOHAIR MOHAIR AUCTION RESULT May 12 Kids Bales sold Nett Mass Av. price (rand/kg) Long (A/B) Summer 91 11, Long (A/B) Winter Medium (C) Summer 94 10, Medium (C) Winter Short (D) Summer 32 4, Short (D) Winter Washing (E) Summer Washing (E) Winter Seady/Stain and Locks 28 3, Summer total , Winter Total Young Goats Long (A/B) Summer , Long (A/B) Winter Medium (C) Summer , Medium (C) Winter Short (D) Summer 51 6, Short (D) Winter Washing (E) Summer Washing (E) Winter Seady/Stain and Locks 41 5, Summer total , Winter Total Adults Long (A/B) Fine 51 7, Long (A/B) Strong 77 11, Medium (C) Fine , Medium (C) Strong , Short (D) Fine 38 4, Short (D) Strong 30 4, Washing (E) Fine 9 1, Washing (E) Strong Seady/Stain and Locks 95 12, Fine total , Strong Total , SOURCE: MOHAIR SOUTH AFRICA May 17 & 18 Micron SOURCE: CAPE WOOLS. 6

7 Wool Market Report - Price Directory May 23rd 2016 UNITED KINGDOM BRITISH QUOTATIONS FOR TOPS Old Quality Mic/Lgt 19-May 12-May 5-May 3 months ago Merino/fine crossbred Year ago 120 s ,005 1, s s s super 21/ s blended 21/ s s super 23/ s blended 23/ s super s blended s super s blended Crossbred 56 s (Australian) s super s s /US$ rate British crossbred 31.5 English /34 English SPECIALITY FIBRES Speciality Fibres - Quotations for all the following fibres and tops are average prices in US$ per kg, FOB Chinese cashmere (dehaired) White 19 May 12 May 5 May 28 April Hosiery 38mm Weaving 32mm Brown Hosiery 38mm Weaving 32mm Mongolian cashmere (dehaired) Brown Light Grey Afghan/Iranian cashmere (dehaired) White Fawn Dark Brown Cape mohair tops Adult 37 microns Young goat 33 microns Super young goat 31 microns Kid 28 microns Kid 25 microns Alpaca tops White Baby (BL) Fine spinning (FS) Adult (AG) BRADFORD AUCTION PRICES IN P/KG N.Q. = no quote GRADE DESCRIPTION May 10 April 12 March 15 March 1 1 Fine Ewes No Fine Ewes No Medium Ewes No Medium Ewes No Mule Ewes No Mule Ewes No Cheviot Ewes No NQ 8 Cheviot Ewes No Fine Radnor No. 1 NQ NQ Fine Radnor No. 2 NQ Welsh No NQ Welsh No Swaledale No Swaledale Grey Blackface Medium No Blackface No BRITISH FLEECE INDICATOR P/KG Greasy Clean SOURCE: BRITISH WOOL MARKETING BOARD Angora Super quality st quality nd quality rd quality th quality Off Camel-hair (dehaired) Super baby Medium baby Adult Yak-hair (dehaired) Super Medium Silk Mulberry sliver Mulberry noil Tussah sliver Tussah noil SOURCE: SEAL INTERNATIONAL 7

8 Wool Market Report - Price Directory May 23rd 2016 AMERICAS Uruguay - unless otherwise stated, prices are in US$/kg, greasy at farmgate for the period March Breed Fineness Micron Unconditioned Lots Conditioned Lots US$ 0.02 Blue Lable Superfine Merino Finer or equal to Superfine Merino Australian Merino/ Dohne Merino/Ideal/ Crosses/Dohne Merino Crosses/ Ideal/Merilin US$ 0.07 Green Label Fine Crosses Fine Corriedale Medium Corriedale Coarse Corriedale Very Coarse Corriedale/ Romney Marsh Romney Marsh Coarser than Fine Bellies and sub-products General Bellies and sub-products Fine Lambs General Lambs SOURCE: URUGUAYAN WOOL SECRETARIAT (SUL) EXCHANGE RATES May 24 May 25, 26 May 25, 26 May 26 June 1 US $ A $ 3 Mths ago Year ago US $ A $ NZ $ SA Rand Index NEXT SALES Port Elizabeth (mohair) Sydeny (11,281 bales) Melbourne (18,659 bales) Napier (8,100 bales) Port Elizabeth (9,022 bales) June 7 Bradford Argentina - unless otherwise stated, prices are in US$/kg, greasy at farmgate for the period May 5-12 Fineness Combing Yield Micron 40% 45% 50% 55% 60% SOURCE: PROLANA Editor Jonathan Dyson jdyson@wtin.com Production Jay Faulkner jfaulkner@wtin.com Subscriptions Adam Ross aross@wtin.com Managing Director Mark Jarvis mjarvis@wtin.com Wool Market Report is published by World Textile Information Network Ltd. WestOne, 114 Wellington Street, Leeds, LS1 1BA, United Kingdom Tel: +44 (0) Fax: +44 (0) jdyson@wtin.com Internet: Copyright 2016 World Textile Information Network Ltd. All rights reserved. No part of this publication may be reproduced, stored in a retrieval system, or transmitted, in any form or by any means, electronic, mechanical, photocopying, recording or otherwise, without the written permission of the publisher. Disclaimer: Information contained in this report is obtained from sources believed to be reliable, however no responsibility nor liability will be accepted by WTiN for commercial decisions claimed to have been based on the content of the report. 8