By Olivia Agar | Source: Ag Concepts, Riemann
We had another week of strong activity on the wool forwards market. All trades were on 19 and 21 micron fibres with growers not looking to secure any further out than July 2018.
19-micron trades were dealt at 2000¢ for February, 1955¢ for March, 1930¢ for April, and 1930¢ & 1960¢ for May 2018.
Eleven forward contracts were dealt for 21-micron fibres. April 2018 saw five of these deals, ranging between 1570¢ and 1590¢. Trades for May 2018 were more varied, hitting prices from 1565¢ up to 1595¢. There was also a single trade for 21 micron for June 2018 at 1569¢.
A few minimum price contracts were also taken out this week on 21-micron wools. Two options were taken out for March 2018 maturities, one at a strike price of 1530¢ with the option of a 30¢ premium, the other a 1590¢ strike and 50¢ premium. A further minimum price contract was dealt at a 1520¢ strike price with a 60¢ premium set to expire in July 2018.
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