By Robert Herrmann | Source: Riemann
Riemann Wool Forwards remained quiet as the wool market slides sideways and towards a three week Christmas break.
Good-till-cancelled (GTC) offers from wool growers came forward in the finer categories. This looks a sound strategy as the wool auctions are remaining solid despite reports of indifferent demand.
This may be the development of a price rally in the New Year when supply is likely to continue to contract, so GTC orders are an excellent way to capture any price rallies for wool producers.
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Read this week's wool market comment - Contrary wool market defying negative factors
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