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Weekly Wool Forwards for week ending 14th June 2019

A very solid week in the forwards market with eleven trades dealt across the most popular MPGs.

Five trades were dealt for 19 micron wool, three for August agreeing at 2,035, 2,050¢ and 2,060¢. The remaining 19 micron trades were for September and agreed at 2,040¢ and 2,050¢.

Four trades were dealt for 21 micron wool. Two of those were for August, agreeing at 2,030¢ and two for October at 1975¢ and 1980¢.

One trade was dealt for 28 micron wool and agreed at 1,080¢ for August.

With auction prices plummeting, the forwards curve in the short term looks steeper than the last month or so. We expect it might change a few times before the market settles again.