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Friday, February 17, 2017

Weekly Wool Forwards – week ending 17th Feb

By Matt Dalgleish  |  Source: Riemann, AG concepts

Key points

Wool4

This week Riemann traded solid volumes, however most of the action was in the 19 MPG tenor, a big change from volume traded over the past 4 – 5 years which has been 21 MPG focused.

This is reflecting where buyers now have their concern; so perhaps it would be prudent for wool growers to take a contrarian approach and focus on 21 MPG contracts to protect future production. This is a good time to discuss with either your broker or Mecardo the type and tenor of forward contracts; high prices and potential further upside for fine wool making an interesting case for trading Basis, something the good grain traders regularly exploit to advantage and worth considering for the next wool clip.

The 19 mpg traded this week as follows:

March 2017 - 1730 to 1750¢

April 2017 1700 to 1730¢

May 2017 traded a 1675 strike minimum price contract at 35¢

April 2018 at 1600¢

The 21 mincron saw trades at 1350¢ for Nov 2017 and 1400 to 1405¢ for April 2017

 

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Northern MPG
Northern MPG

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Go to Wool data

Southern MPG
Southern MPG

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Go to Wool data

Western MPG
Western MPG

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Go to Wool data

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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