Weekly Wool Forwards for week ending 25 January 2019
All of the action this week was in the 21 micron category, where the fine prices set on grower orders are lower than the current auction prices, but on par with fine trades to mid-2019 over the last few months, signaling confidence in a stable market.
One trade was dealt for May 2019 at 2,165¢/kg and three trades were dealt for June, all between the 2150 and 2160¢/kg marks. This confirms that buyers and sellers are relatively comfortable in that price range for the first half of the year.
Last week we saw some interesting developments in coarse wools with bids close to auction levels. This is still the case and it might be worthwhile for growers to lock in prices for mid-year. We are keen to see some action in other fiber lengths in the coming weeks.
