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Thursday, March 29, 2018

Weekly Wool Forwards – week ending 30th March 2018

By Olivia Agar  |  Source: Mecardo, Riemann

Key points

2018-03-29 Wwf Fig 1

Riemann traded at low volumes again this week. The contracts traded were set with expiry dates into the second half of 2018. The previous few weeks had not seen any contracts dealt past June 2018 so the softening physical market may be encouraging more distant coverage in this week’s trade.

Two forward contracts were traded for 19 micron fibres. The expiry dates were further out that what we have seen of late. One trade was dealt at 1,900¢ for an August 2018 expiry while the other dealt at 1,860¢ for a September expiry.

A minimum price contract also traded this week for 19 micron fleece. It was dealt with a strike price of 1,700¢ with a 27¢ premium. The grower has until October 2018 to decide whether they will take out the option. 

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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