The South African wool market traded higher at this week’s auction, with the Cape Wools Merino Indicator increasing by 821 points (3.7%) to close at a value of R232.16/kg (clean). The Cape Wools All Wool Indicator increased by 3.8%.
The market traded firmer this week supported by a weaker rand and driven by good demand for long and fine Merino wool. Prices increased across the board with the coarse end of the market well supported. 94% of a smaller sized offering was sold.
This week saw the rand at R14.61 to the US dollar and R16.79 to the euro. The rand was 1.7% weaker against the US dollar and 1.1% weaker against the euro, compared with the average rate at the previous sale. The offering comprised 6,312 bales of which 94% was sold. Major traders were Modiano (1,861 bales), Standard Wool SA (1,798), Tianyu SA (885) and Stucken & Co (738).
The average clean prices for the selection within the different micron categories for good top-making (MF5), long fleeces were as follows: 18 microns increased 1.7% to close at R269.36/kg; 18.5 microns moved 2.6% up to close at R263.33/kg; 19 microns gained 2.8% to close at R253.39/kg; 19.5 microns strengthened by 3% to close at R251.53/kg; 20 microns was 5.6% stronger to close at R243.79/kg; 20.5 microns won 6.1% to close at R239.64/kg; 21 microns gained 3.7% to close at R239.09/kg; 21.5 microns improved by 3.4% to close at R229.44/kg; 22 microns increased by 2.6% to close at 228.58/kg; and 22.5 microns lifted by 1% to close at R227.54/kg.
Source: Cape Wools
