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Friday, April 29, 2016

Riemann Wool Forwards – week ending 29/04/2016

By Matt Dalgleish  |  Source: Riemann

Key points

2016-04-22 Riemann Update Fig 1

The sharply lower $A on the back of the mid-week CPI release did little to inspire the wool forward market despite some good gains in the physical auctions.

Normally a bounce in the wool auctions can see increased activity in the Riemann system with export buyers scrambling to get some cover set, providing some good opportunities for growers with orders in place to be filled. Unfortunately, this did not translate into forward contract volumes this week.

However, there were some fresh orders passed in the 21-micron category for early June at 1380¢. 

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