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Greasy wool futures (21 micron) contract specifications

ASX 24 takes no responsibility for any errors or omissions or losses consequential or otherwise arising from actions based upon this information. The information published here does not substitute for the ASX 24 Operating Rules and in the case of inconsistency, the ASX 24 Operating Rules prevail.  

Contract Unit The greasy equivalent of 2,500 kilograms clean weight of merino combing fleece (approximately 20 farm bales).
Contract Months February, April, June, August, October, December up to 18 months ahead.
Commodity Code GW
Listing Date 13/03/1995
Minimum Price Movement Prices are quoted in cents per kilogram clean weight. ( The minimum fluctuation of 1 cent per kilogram is equal to A$25 per contract).
Final Trading Day The third Thursday of each Settlement Month, or if that day is not a Business Day then the Business Day immediately preceding the third Thursday of the Settlement Month. Trading ceases at 12.00 noon.*
Trading Hours

Day Session only: 10.30 am - 4.00 pm*

Settlement Method The "delivery period" commences on the Friday prior to the third Thursday of the delivery month, unless that Friday is not a business day, in which case the delivery period commences on the business day immediately preceding, and in any event ends at the close of trade on the final day of trading.
Deliverable Grade

Standard Delivery: Good topmaking merino fleece with;

  • average fibre diametre of 21.0 microns,
  • with measured mean staple strength of 35 n/ktx,
  • mean staple length of 90mm,
  • of good colour,
  • with less than 1.0% vegetable matter.

Deliverable Tolerances:

  • 2,250 to 2,750 clean weight kilograms of merino fleece wool,
  • of good topmaking style or better,
  • good colour,
  • Each wool lot shall have a mean fibre diameter greater than or equal to 18.6 microns and less than or equal to 22.5 microns. The Premium payable for wool with a mean fibre diamtere less than 19.6 microns will be capped at the Premium applicable for 19.6 microns. 
  • Deliverable wool shall have a maximum variation of 1.0 microns of mean fibre diameter between wool lots. 
  • Each wool lot shall have an IWTO Schlumberger Dry Top and Noil Yield of greater than or equal to 62.1 per cent.
  • Each wool lot shall have mean staple strength greater than or equal to 31 newtons per kilotex.
  • Each wool lot which has a mean staple strength less than or equal to 35 newtons per kilotex shall have greater than or equal to 40 per cent of the position of break ("POB") at the tip and the base combined and less than or equal to 60 per cent POB at the middle. 
  • Each wool lot shall have mean staple length greater than or eqal to 80mm and less than or equal to 100mm.
  • Each wool lot shall have less than or equal to 1.0% seed and shive and less than or equal to 2.0% of total vegetable matter.

Fixed on the Friday prior to the last trading day for all deliverable wools above and below the standard, quoted in cents per kilogram clean.