Weekly Wool Forwards for week ending 30th August 2019
While the auction market sings a Tom Petty tune, the interest and activity in forwards is flooding in, with nearly 30 trades this week as growers look to lock in.
In 19 Micron wool, eleven trades were deal this week. For September, trades agreed between 1,655¢ and 1,665¢. November and December saw agreements between 1,640¢ and 1,660¢ while for January and February of next year, trades were dealt at 1,610¢.
In 21 Micron wool, 17 trades were dealt this week. For September, trades agreed at 1,620¢ while for October we saw agreements between 1,620¢ and 1,625¢. November and December saw trades dealt at 1,600¢ while for January 2019, trades agreed at 1,570¢.
In 28 Micron wool, 1 trade was dealt, agreeing at 830¢ for September.
If falls in physical prices continue, we’re likely to see more growers locking in prices with Eddie, but just like the show, we’ll have to wait til after the break to see the results.