By Mily Wilson | Source: Mecardo, Riemann
The wool forwards have been striding ahead strongly in the past few weeks and this week was no different. The strong physical wool market and declining stocks have left buyers concerned and this is clear from the trades dealt in wool forward this week. Overall, twenty-four deals were traded in Riemann.
Trades in 18 micron wool category were at 2350¢ and 2300¢ for July and August 2018 respectively. While 19 micron had two deals at 2150¢ for July 2018, three at 2100¢ for August 2018, two contracts ranging from 2050¢ to 2070¢ for September 2018 and one for November at 1980¢.
21 micron wool saw majority of trades happening in September 2018. There were seven trades ranging from 1920¢ to 1945¢. Rest of the trades were for June, August and October. One trade was dealt for June 2018 at 2080¢, two for August at 2000¢ and 2040¢ and one for October 2018 at 1900¢. Medium wool category had deals from 22 and 23 micron types as well. 22 micron type was traded at 2105¢ for July 2018 while 23 micron saw a deal at 1880¢ for September 2018.
In the midst of all trades for 2018, there was a single trade for 2019. This was from 19 micron category for November at 1900¢.
There were no minimum price contracts this week.
NB: Like the current wool forward curve, my time has come to stride ahead. This will be my last wool forward report as i make the leap into a new industry. I hope you've enjoyed my reports!
This is Mily Wilson signing off..
Mecardo information is provided to assist in your marketing decisions. It contains a range of data and views on the current market. It is not intended to constitute advice for a specific purpose. Before taking any action in relation to information contained within this report, you should seek advice from a qualified professional. The information is obtained from a variety of sources and neither Mecardo nor Ag Concepts Advisory will be held liable for any loss or damage whatsoever that may arise from the use of information or for any error or mis-statement contained in this report.
Mecardo will send you its latest market analysis outlook delivered to your Inbox as it's published. You will also receive one month Premium access for free.
You tell us what information you want to hear about, so you'll only be alerted to information that is relevant to you.Learn more about Mecardo Sign Up Now!