FUTURES Wool up, $US lower
The wool contract rose and the U.S. dollar contract fell on the futures market yesterday. Wool firmed on low volume, reaching 535 c per kilogram for August delivery. Dr Brent Layton, of Marshall Futures, Christchurch, attributed the rise to the lateseason firming on the physical wool market and the falling of the New Zealand dollar against European currencies. Late-season firming in wool prices was traditional, and did
not necessarily indicate that prices would be in the new season, he added. The New Zealand dollar firmed against the Australian and United States dollars yesterday, though falling against some currencies. United States dollar futures fell, therefore, touching $NZ2.1655 in the May contract before closing at $NZ2.1710. (The Friday close was JNZ2.1880.) The liveliness of the dollar
contract was providing plenty of scope for day trading (in and out of the market the same day), Dr' Layton said. Details of trading in the U.S. dollar contract yesterday were: JUS CONTRACT 85 Open H/L Last Vol Apr 2.1730 .1730/.1655 .1710 89 May 2.1950 .1990/.1950 .1960 19 Jun - ' - .2260 1 Sep — - - — Dec — — — — Meh - - - - Contracts traded: 109
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Press, 2 April 1985, Page 34
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186FUTURES Wool up, $US lower Press, 2 April 1985, Page 34
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