By Matt Dalgleish | Source: Riemann
Australian wool auction markets staged a good rally this week on the back of a softening A$. The currency was sharply lower after a combination of the mid-week interest rate cut and deflating prices from last week’s CPI numbers.
Usually the lift in prices in the physical market flows through into solid activity on the Riemann wool forwards platform but alas this was not the case this week. Although some growers have taken the opportunity to place fresh GTC orders on the Riemann system.
The 21 micron saw an early September 2016 offer placed at 1399 mid-week.
Mecardo information is provided to assist in your marketing decisions. It contains a range of data and views on the current market. It is not intended to constitute advice for a specific purpose. Before taking any action in relation to information contained within this report, you should seek advice from a qualified professional. The information is obtained from a variety of sources and neither Mecardo nor Ag Concepts Advisory will be held liable for any loss or damage whatsoever that may arise from the use of information or for any error or mis-statement contained in this report.
Mecardo will send you its latest market analysis outlook delivered to your Inbox as it's published. You will also receive one month Premium access for free.
You tell us what information you want to hear about, so you'll only be alerted to information that is relevant to you.Learn more about Mecardo Sign Up Now!