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Friday, August 04, 2017

Weekly Wool Forwards - week ending 4th August 2017

By Olivia Agar  |  Source: Ag Concepts, Riemann

Key points

2017-08-04 Wool Fig 1

The forwards market swung back into action this week with 13 trades being dealt across the fine to mid fibres. This was likely a combined impact from the Australian dollar dropping back down below the 80c milestone of last week and a few producers with itchy feet as the winter break at the physical auction continued into its 3rd week.

On the finer end of the market, 19 microns were traded at 1760¢ for September 2017 and 1700¢ out for August 2018. Moving up towards the mid fibres, we saw an unusually wide range of prices landed for 21-micron wool in the upcoming months. An early trade was made at 1500¢ for August 2017.While a late week flurry for September 2017 saw 5 deals traded at a range from 1475¢ up to 1510¢. Trades were also dealt for October 2017 at 1450¢ and 1475¢. Still in the 21 micron fibres, 2018 forward contracts were traded for January at 1420¢, February at 1410¢, April at 1395¢ and September at 1360¢.  

A minimum price contract was also taken out on a 19-micron wool with a strike price of 1820¢ and a premium of 30¢. This option contract is set to expire at the end of this month with a floor price of 1790¢ for the producer. 

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