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Friday, September 01, 2017

Weekly Wool Forwards – week ending 1st September 2017

By Olivia Agar  |  Source: Ag Concepts, Riemann

Key points

2017-09-01 Wool Forwards Fig 2

The wool forwards market played strongly again, tagging along on the busy physical market. This week the market cutting down to trades only on 19 and 21 micron fibre wools.

In the fine wool category, 19 MPG prices held fairly steady for trades out to early next year. Deals for 2017 were struck for September at 1,800¢ and December at 1,820¢. Onto 2018 and 3 contracts traded at 1,800¢ for 19 MPG wool to January and another at the same price for February. A distant trade out for August 2018 was the only real outlier, trading at 1,700¢.

Prices traded for 21 micron fibres tended to waver more than deals in the finer category. September 2017 dealt at 1,570¢, while November saw trades at 1540¢ and 1,550¢. A contract for January traded at 1,515¢ and February ranged between 1,510¢ and 1,520¢. A deal was also made for June 2018 at 1,475¢ price.

Option contracts also gained some traction this week. A minimum price contract was dealt at a strike of 1800¢ for a premium of 32¢, set to mature in October 2017. Another was taken out for a later March 2018 maturity at 1720¢ for a 73¢ premium.

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