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Weekly Wool Forwards for week ending 21st June 2019 1

Weekly Wool Forwards for week ending 21st June 2019

Weekly Wool Forwards for week ending 21st June 2019 3Nine trades were dealt on the forwards market this week, most of them in 19 micron wool, a bit of a slap in the face after predicting quieter markets, but healthy for the forwards market.

Seven trades were dealt in 19 micron wool. One agreed for July at 2,025¢, two agreed for August at 1,985¢ and 2,045¢, quite a discrepancy of 60¢. One trade was dealt for September and agreed at 1,905¢ while two trades were agreed for October at 1,900¢ and 1,915¢.

Two trades were dealt in 21 micron wool, both for December. One agreed at 1,900¢ and the other at 1,920¢.

It’s hard to predict what might be ahead for the forward market as auction supply continues to dwindle. Furthermore, a falling auction market fosters doubt and hesitance among participants in the forward market and makes for thin and volatile trading.