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Friday, March 08, 2019

Weekly Wool Forwards for week ending 8th March 2019

By Matthew McAdam  |  Source: Riemann, Mecardo

Key points

2019-03-08 Wwf 1

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?

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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