Futures
The futures market has been very quiet this week, with thin trading. Mr Geoff McDonnell, futures manager of Mair Astley, said wool contract prices were not expected to move until the £lO3l auction at Napier on laty 8. Dr Brent Layton, of Marshall Futures, said there had been a slight firming in the PCP index. This was in response to low interest rates on the money market yesterday, which at present was fairly flush and with little corporate demand. Mr McDonnell said the thin trading on the U.S. dollar contract gave no indication of the kiwi dollar’s direction. Yesterday’s trading: COMMERCIAL BILLS Mth Open H/L Last Vol Jan 7950 950/945 945 6 Mar 7870 890/870 880 28 Contracts traded: 34. Open position as at Dec 24: Jan 423, Feb 370, Mar 707, Jun 82, Sep 71, Dec 17, total 1670 (down 105). SUS CONTRACTS Mth Open H/L Last Vol _Dec 2.0050 050/020 020 .12 Jan 2.0250 250/215 215 12 Feb 2.0450 450/450 4 - Feb 2.0450 450/450 450 2 Contracts traded: 26. Open position as at Dec 24: Dec 99, Jan 250, Feb 5, Mar 1, Jun 1, Sep 1, total 357 (up 8). WOOL FUTURES There were no trades in the wool futures contract yesterday. Open position as at Dee 24: Jan 97, Mar 226, May 377, Aug 210, Oct 210, Dec 214, Jan 194, Mar 293, May 180, total 2001 (down 1).
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Press, 28 December 1985, Page 21
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234Futures Press, 28 December 1985, Page 21
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