By Matthew McAdam | Source: Riemann, Mecardo
The forwards market dropped off to measly pickings this week with only four trades agreed, and one of those was for coarse wool. This is in stark contrast to what we saw through February and even in comparison to March forwards figures over the last three years.
In the fine wool category, one trade was dealt for 19 Micron in June for 2280¢. In the medium wool category, two trades were dealt for 21 Micron in June, both at 2250¢. In coarse wools, one trade was dealt for 28 Micron in May at 1,050¢.
The Aussie Dollar has come steeply down over the last two days, which would usually see more interest in the forward market from overseas buyers. Physical auction prices are still at record levels, despite cooling slightly this week. The question is whether this week is just an anomaly or will we see less trades dealt through the rest of March, even with a correction of the AUD?
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