Weekly Wool Forwards for week ending 27th September 2019
Forwards has almost, but not quite seen exclusivity toward 19 Micron wool this week.
We saw one trade for 21 Micron wool, agreeing at 1,750¢ for October.
For 19 Micron wool, a mighty ten trades dealt, the lions share of these this year. Four trades were agreed for October between 1,790¢ and 1,830¢. Another four trades were agreed for November, agreeing between 1,800¢ and 1,850¢. One trade was dealt with each for February and April 2020 and agreed at 1,800¢.
For 19 Micron at least, the trades this week do point toward stabilizing price for the time being, as the recent steadying of confidence continues. We’ll have to wait for more data to see if this trend flows through to the other MPGs and it’s anyone’s guess how long it will last.