By Mily Wilson | Source: Ag Concepts, Riemann
Contrary to the ups and downs seen in the number of trades over the last few weeks, this week the wool forward market was passive. Overall, there were seven trades in forward market and one in options market.
There were two trades in the 19 micron category. Both deals were dealt at 2100¢ for May 2018. The remaining trades were for 21 micron category wool, ranging between 1800¢ and 1835¢ for May, June and April 2018.
This week saw a minimum price contract, which enables the grower to choose whether to see out the trade or not. The contract had a strike price of 1800¢ set to mature in 21 March 2018. The grower paid premium of 20¢.
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