FUTURES Wool contracts hold up
Wool futures were staady yesterday in spite of a fall in wool prices during the day. Futures Closed at the most 1c down on Tuesday’s last prices. The firm New Zealand dollar was behind the drop in physical wool prices. It also was the cause, with a weaker United States dollar, of a fall in United States dollar futures. The February contract closed 39 points ($195) down on the Tuesday close. March closed
15 points down. Commercial-bill futures (PCPs) firmed. February closed 11 points up on the Tuesday close, March closed 28 points up, and April was five points up. Dr Brent Layton, of Marshall Futures, said PCP futures’ rise reflected two factors: • A drop of about 0.2 per cent interest on the physical market. • A rise in. physical 30day rates and a slight fall in 120-day rates. This meant the PCP futures must rise to prevent possibilities of arbitrage, Dr Layton said. Details of yesterday’s trading:
Contracts traded: 20 Open positions at February 11: Mar. 136, May 363, Aug. 200, Oct. 209, Dec. 214, Jan. 224, Mar. 311, May 215, Aug. 36. Total: 1908 (down 7).
SUS CONTRACTS Mth Open H/L Last Vol Feb. 1.8440 .8465/415 .8421 105 Mar. 1.8565 .8565/565 .8565 2 Contracts traded: 107. Open positions at February 11: Feb. 328, Mar. 22, Jun. 3, Sept 2. Total: 347 (up 23). COMMERCIAL BILLS 86 Open H/L Last Vol Feb. 7620 635/610 620 44 Mar. 7620 644/620 640 73 Apr. 7700 710/700 705 12 Sept 7870 878/870 870 6 Dec. 8000 8000/8000 8000 1 Contracts traded: 136. Open positions at February 11: Feb. 177, Mar. 1099, Apr. 330, Jun. 119, Sept. 72, Dec. 17. Total: 1814 (down 36). WOOL FUTURES Mth Open H/L Last Vol May 505 506/505 506 3 Aug. 522 522/522 522 1 Oct 523 523/523 523 2 Dec. 523 523/522 523 9 Jan. 523 523/523 523 1 Mar. 524 527/524 527 2 Aug. 544 544/544 544 2
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Press, 13 February 1986, Page 26
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327FUTURES Wool contracts hold up Press, 13 February 1986, Page 26
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