The South African wool market traded slightly lower at this week’s auction, held on 27-28 November, with the Cape Wools Merino Indicator decreasing by 241 points (1.2%) to close at a value of R207.71/kg (clean). The Cape Wools All Wool Indicator fell by 1%.
The market continued its steady decline and traded slightly lower. The unchanged rand gave little support and the fair demand for long and fine Merino wool varied sharply across micron groups. The receivals at broker stores are still markedly down.
This week saw the rand at R13.95 to the US dollar and R15.74 to the euro. The rand was 0.4% stronger against the US dollar and 1.3% stronger against the euro compared with the average rate at the previous sale.
The offering comprised 13,070 bales of which 95.6% was sold. Major traders were G Modiano SA (3,986 bales), Standard Wool SA (3,300), Tianyu SA (1,972) and Lempriere SA (1,650).
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 0.7% to close at R238.38/kg; 18.5 microns moved 0.5% up to close at R237.29/kg; 19 microns lost 1.1% to close at R224.48/kg; 19.5 microns weakened by 0.9% to close at R223.94/kg; 20 microns was 0.3% stronger to close at R221.58/kg; 20.5 microns lost 0.2% to close at R220.38/kg; 21 microns recovered 0.2% to close at R219.16/kg; 21.5 microns decreased by 1.2% to close at R208.21/kg; 22 microns increased by 1.2% to close at 207.27/kg; and 22.5 microns increased by 1.4% to close at R206.57/kg.
Source: Cape Wools
