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Monday, May 09, 2016

Riemann Wool Forwards – week ending 06/05/2016

By Matt Dalgleish  |  Source: Riemann

Key points

2016-05-09 Riemann Fig 1

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.

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