By Mily Wilson | Source: Ag Concepts, Riemann
As the physical market gets stronger, the wool forward market is also rallying. In addition to the sixteen trades dealt this week, there were two options contract as well.
There was a single trade for 18 micron category at 2195¢ for November 2018. The trades in 19 micron wool are spread across the next half of 2018. One trade for May at 2200¢, one for June at 2160¢, two in September at 2030¢ and 2010¢, one for October at 1945¢, two in November at 1960¢ and 1955¢ and one for December at 1945¢.
Most of the trades from 21 micron category lean towards the middle of the year- one for June at 2005¢, two for August at 1900¢ and 1955¢ and three for September between 1880¢ and 1890¢. Another one was for October at 1860¢.
Options market saw two deals for 19 micron wool. First one had a strike price of 2050¢ for July 2018. The grower paid a premium of 50¢. While the second one had a strike price of 1950¢ set to mature in September 2018. The premium paid by the grower was 45¢. These contracts give the right to grower to decide whether they want to sell their wool at the agreed price for a future date.
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