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Thursday, April 18, 2019

Weekly Wool Forwards for week ending 19th April 2019

By Matthew McAdam  |  Source: Riemann, Mecardo

Key points

2019-04-18 Wwf 1

Higher than average interest in crossbreds continued this week, a reflection of the historically good prices they are experiencing. The Aussie dollar rose on average this week and apart from the crossbreds, the forward market was quiet again.

In the medium wool category, two trades were agreed for 21 Micron wool; one for June at 2250¢, the same price for June as both trades in this category last week; and one for May, again at 2250¢.

In the coarse wool category, four trades were dealt for 28 Micron, one for November at 1,050¢ and three for April next year at 995¢.

The Australian dollar climbed to a short peak of over 72¢ this week, but has softened slightly today.

The Easter recess for the Auction market will likely mean we won’t see trades next week unless the Aussie Dollar performs backflips. The bunny trail for the forward curve is still pretty flat, so we expect egg collectors (purchasers) will continue to be happy with prices for some time.

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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