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Friday, November 02, 2018

Weekly Wool Forwards – week ending 2nd November 2018

By Olivia Agar  |  Source: Riemann, Mecardo

Key points

2018-11-2 Wwf Fig 1

The lacklustre physical auction market provided a leader for a lacklustre week on the forwards market. The US dollar rise over the last fortnight came to an abrupt halt, making room for the Aussie to lift above the 72¢ level. This shift saw the market looking less favourable to overseas buyers.

Just four contracts for mid fibres traded over the week. A 19 micron trade was dealt at 2,150¢ for May 2019.

21 micron wool traded at 2,080¢ and 2,130¢ for November 2019 and 2,050¢ for February 2019.

No minimum price contracts were traded this week.

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. 

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