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Saturday, February 27, 2016

Riemann Wool Forwards – week ending 26/2/2016

By Matt Dalgleish  |  Source: Riemann

Key points

2016-02-26 Riemann Table

A softer bias to the auctions this week flowed through to the wool forward market with very subdued interest from exporters as the higher A$ took its toll.

The A$ appears range bound between 69.5 – 73.5¢ US for the moment. There is potential for a test to the top of this range in the coming week as the speculative A$ market appears to be carrying some short positions which may continue to dampen exporter demand for wool in the near term. 

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