By Olivia Agar | Source: Mecardo, Riemann
The wool forwards market picked up some traction on return from the Easter recess. Growers were looking to take out cover over both the short term and the long term in fine to mid micron categories.
Last week saw two trades of 19 micron wool for August 2018 at 1900¢ and 1910¢. A 21 micron contract traded at 1710¢ for September 2018 and a 22 micron lot also dealt at 1795¢ for May 2018.
This week 19 micron fibre traded at 1980¢ for June 2018, 1920¢ for July 2018 and 1900¢ for August 2018. Seven contracts were traded for 21 micron wool. Four of these were set for short coverage with May 2018 expiry dates and strike prices ranging between 1850¢ and 1865¢. 21 micron also dealt for 1780¢ and 1800¢ for July 2018, while another contract traded at 1600¢ out to June 2019 lifting the back end of the forward curve higher.
No minimum price contracts were traded.
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