15 Jul Weekly Wool Forwards for week ending 12th July 2019
A quiet week in the forwards market with only three trades.
One trade was dealt in 20 micron wool for August and agreed at 2,000¢. Another trade was dealt in 21 micron wool for September and agreed at 1,975¢. The remaining trade was dealt for 28 micron wool, agreeing at 955¢ for December.
Forwards prices are playing yo-yo over the next 6 months or so, a reflection of the physical market of late. Uncertainty is creating market volatility, and it seems like no-one really knows where it’s going to end up. As the new auction season begins and we start to see volumes and quality presented, the forwards market should regain some composure.