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Friday, September 18, 2015

Riemann wool forwards - week ending 18 September

By Robert Herrmann  |  Source: Riemann

On the back of lacklustre wool auctions this week, Riemann Wool Forwards were also very quiet. This saw bids evaporate as the wool trade waited to see where the auctions would settle.

Buyers report that the major customers see 1300 cents (for 21 MPG) as a price level where they will begin to build forward purchases; above that and processors are reluctant to operate in the forward market.

The recent A$ led volatility in the wool market has reinforced the need for growers to take cover on some of their future production; using “Good Till Cancelled” (GTC) orders in the market to prepare for any rally.

Riemann two-month trade summary

2015-09-18 Riemann Weekly TLB 1

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