FORWARD wool prices were executed at a premium in light trading this week as auction prices faltered.

The resistance the spot wool market has shown over the last month cracked, with most Merino qualities giving up 2-3 percent — around 30 to 40 cents — over the week.

The market has held firm against a backdrop of generally weaker commodity markets, highlighted by cotton losing nearly 10pc over the last month.

The forward prices were again executed at a premium, with trades concentrated in the later part of this year. The 19 micron index traded at 1580 cents in October and 1600 cents in December, the 21 micron contract traded at 1300 cents in December.

Bidding interest in the nearby months was patchy and closed the week at around 20 cents discount to cash.

Demand into 2022 remains solid at around 20 cents premium to the close, but slightly off its peak last week.

In the short term, demand for the last quarter of 2021 seems to be satisfied with the forward curve showing a definite pattern.

This week’s trades

October 19 micron                                          1580 cents         5 tonnes

December 19 micron                                     1600 cents          5 tonnes

December 21 micron                                      1300 cents         5 tonnes

Total 15 tonnes