By Olivia Agar | Source: ACA, Riemann
Growers were banging at the gate to get into the forwards market this week. A positive physical market for fine and medium fibre wools across the country incentivised growers to lock in cover for next year while prices are strong.
In the 18.5 micron category a deal was struck for November 2017 at 1959¢, while 2018 tenors saw prices for January and April at 1,955¢ and 1,950¢ respectively. 19 MPG wool traded at 1820¢ for February 2018 and a number of contracts for April ranged at 1,800-1,825¢.
Majority of deals this week were for medium fibres at 21 micron. A February 2018 contract was locked in for 1,530¢, while March saw two deals at 1,510¢. A wider range of prices were agreed on for April 2018 with a number of trades ranging between 1,510¢ and 1,530¢.
No minimum price contracts were dealt this week.
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