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Insight2 Nov 2015A comprehensive weekly round-up and analysis of price developments at the major wool auctions around the world.
The fifth mohair sale of the 2015 winter season was held in Port Elizabeth, with 123,215 kg on offer. A sales clearance of close to 100% was achieved, with the market continuing its upward trend and strengthening by 5% to close on R199.87 per kg.
The wool market capitalised on its recent gains and increased significantly, with the Cape Wools Merino Indicator gaining 5.3% on the previous sale to close at a value of R129.76 (Clean). The Cape Wools All Wool Indicator strengthened 4.9%.
Most types eased again this week for the North Island offering of 6,100 bales. However, 90% of the selection still sold, with most growers meeting the market.
The South African wool market increased at this week’s sale with the Cape Wools Merino Indicator gaining 1.3% compared to the last sale to close the day at a value of R123.23 (Clean). The Cape Wools All Wool Indicator strengthened 1.2%.
Despite a slightly easier New Zealand dollar compared to the last sale on October 15, New Zealand wool prices continued to decline this week. The weighted indicator for the main trading currencies came down 0.85%. Of the 8,290 bales on offer 70% sold.
The Australian wool market was up strongly this week, following five successive weeks of falls. The Australian Wool Exchange (AWEX) Eastern Market Indicator (EMI) climbed 36 cents (3.1%) to close on 1,205 cents per kilo clean on Thursday, October 22.
Last week the Australian wool market followed a similar pattern as the previous week, as the Australian Wool Exchange (AWEX) Eastern Market Indicator (EMI) dipped in local currency terms, but remained stable in US dollar terms, as the Aussie dollar strengthened again.
The wool market was mostly unchanged at this week’s sale, with the Cape Wools Merino Indicator declining 1.6% compared to the last sale to close the day at a value of R122.76 (Clean). The Cape Wools All Wool Indicator weakened by 1.6%.