pointers on machete upgrades for s5 from a jungle main
http://www.surrenderat20.net/2014/10/109-pbe-update.html
Everyone is going to buy hunter's machete because you want the smite upgrades, that being said, a look at the upgrades.
Your value to your team as a jungler is above all else through your ganking capabilities. If you don't have CC you'll want Stalker's Blade to make it easy to Gank. If you have CC, you'll still want Stalker's Blade to make your ganks oppressively difficult to escape.
Stalker's Blade After killing 3 monsters, you can smite enemy champions, dealing a small amount of true damage and reducing their movement speed by 50% for 2 seconds.
Poacher's Knife
~~Upgrade Smite to Quick Smite. Quick Smite has reduced cooldown - has further reduced cooldown when you kill large monsters and grants bonus gold if you use it on the monsters in the enemy jungle. ~~
Not worth it unless you spend most of your time in your own jungle which you shouldn't
Skirmisher's Saber
Upgrades Smite to Challenging Smite. Challenging Smite can be cast on an enemy champion - doing no true damage but revealing them for a long time and causing your attacks to deal bonus true damage each time you hit him.
Elder Lizard true damage over time substitue that doesn't provide the dps output you can put out with a 50% slow over 2 seconds
Ranger's Trailblazer
~~Upgrades Smite to Desolating Smite - which causes Smite to deal 50% splash damage to other nearby monsters as well as stun them for 1.5 seconds. ~~
This is for afk farming which you shouldn't be doing.
Sustaining in the jungle There doesn't seem to be any form of %damage back as hp, it's all been replaced with hp regen per sec which means armor itemization will help you survive the jungle and keep your hp up - not very well mind you but it's there. All Junglers that have built in shields may be able to sustain reasonably well provided their shield strength/armor is enough. If you have sustain to go with it, even better.
Also if you are a mage jungler - take each and every blue buff as the mana regen you get in the jungle will not be enough to keep you going.
Upgrades Juggernaut - obvious tank item Magus - obvious mage item Warrior - if and only if you are an AD/Cdr type, e.g. lee sin, pantheon, khazix etc. Slayer - if and only if you have any kind of on hit synergies - yi, warwick, shyvana etc.