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Friday, September 14, 2018

Weekly wool forwards- week ending 14th September 2018

By Michael Close  |  Source: Riemann, Mecardo

Key points

2018-09-14 Wwf Fig 1

The forwards market reacted to a flat physical market where the EMI remained steady while the finer microns rallied. As a result, the finer forward contracts become active with overseas buyers trying to snap up a cheap deal which was supported by an Aussie dollar remaining under 72 US¢.

The 18 micron fibers saw 2 contracts being traded. November 2018 traded in at 2600¢ while April 2019 had 2510¢ as the price.

19 microns traded at 2300¢ for Jan 2019 and 2325¢ for February 2019 while May 2019 had 2 trades both coming in at 2255¢ rounding out the fine wool category.

Only one contract traded for the 21 micron fibers with it being dealt at 2210¢ for October 2018.

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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