By Mily Wilson | Source: Riemann, AG concepts
A solid week in wool forwards as the physical market lifts strongly pre- Easter, encouraging exporter buyer in the forward market - particularly in the medium fibre contracts.
A major portion of this week’s forward trades were in 21-micron wool. May 2017 saw one deal at 1460¢, three at 1470¢ and one at 1475¢. Further, June 2017 deals range between 1460¢ and 1465¢. And the trade traffic in July 2017 saw action between 1450¢ and 1465¢.
Three trades took in 19-micron class dealing at 1675¢, 1720¢ and 1835¢ for November, October and May 2017 respectively. The 22-micron contract traded at 1375¢ for May 2017.
Two minimum price contracts were dealt for 18.5-micron at a premium of 35¢ and 45¢ respectively. First one has a strike price of 1900¢ while the strike price of the second deal is 1925¢. Both these trades are set to expire in July 2017.
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