By Matt Dalgleish | Source: Riemann
Wool forwards had a flurry of activity early in the week – Sunday eve in fact, and looked a promising start for the week. However, this activity was all prior to the recent A$ rally, now above 76¢ US.
The earlier trades focused on the finer category classes with 19-micron March tenor trading to 1375¢, July to 1365¢ and September to 1350¢. The 18.5-micron category saw July contracts trade as high as 1410¢.
From mid-week onwards trading activity tapered off, although the higher currency saw some grower orders with lower offers creep into the market late in the week.
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