19 Sep Weekly Wool Forwards for week ending 13th Sept 2019
Interest in futures seems to be bouncing back, with 21 trades last week and 15 this week. Crossbreds have garnered some of that attention this week.
For 19 Micron wool, five trades dealt. One trade was agreed at 1,650¢ for November. Four trades were dealt for April 2020 and agreed between 1,600¢ to 1,670¢.
For 21 Micron wool, six trades dealt, one for September at 1,650¢ and three for November with agreements between 1,520¢ and 1,535¢. One trade was dealt for both January and April 2020 at 1,600¢ and 1,630¢ respectively.
Four trades dealt on 28 micron wool, two for both November and December agreeing between 835¢ and 850¢.
It’s good to see confidence returning in the forward market. That this has come when the auction market seems to have hit its base and indeed is bouncing back seems of little coincidence.