Mecardo Analysis - Weekly Wool Forwards for week ending 19th April 2019
- By: "Farm Tender" News
- Ag Tech News
- Apr 18, 2019
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By Matthew McAdam | Source: Riemann, Mecardo
This article is bought to you by Pepperton Poll Dorset & White Suffolk Stud
Higher than average interest in crossbreds continued this week, a reflection of the historically good prices they are experiencing. The Aussie dollar rose on average this week and apart from the crossbreds, the forward market was quiet again.
In the medium wool category, two trades were agreed for 21 Micron wool; one for June at 2250¢, the same price for June as both trades in this category last week; and one for May, again at 2250¢.
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In the coarse wool category, four trades were dealt for 28 Micron, one for November at 1,050¢ and three for April next year at 995¢.
The Australian dollar climbed to a short peak of over 72¢ this week, but has softened slightly today.
The Easter recess for the Auction market will likely mean we won’t see trades next week unless the Aussie Dollar performs backflips. The bunny trail for the forward curve is still pretty flat, so we expect egg collectors (purchasers) will continue to be happy with prices for some time.
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