The first sale of the new wool-selling season exceeded expectations with the Cape Wools Merino indicator shedding 7.6% compared to the closing sale of the previous season and closed at R101, 96/kg (clean).
This sale was marked by good demand and keen competition from the various sectors of the trade, which supported the firm price level.
Traders commented that the weakening rand helped soften the prices and reflected the Australian market conditions. The rand was 3.4% weaker against the US dollar compared with the average rate at the previous sale, while it dropped 5.9% against the euro.
It was a large sale with 15 607 bales on offer of which 98% was sold.
Major buyers were Standard Wool (4 761), Lempriere (3 422), Modiano (3 041), Stucken & Co (1 615) and Segard Masurel (1 074).
The average clean prices for the different categories good top-making (MF5), long fleeces were as follows: 18 microns were down 5.7% to R113,19/kg, 18,5 microns shed 5.6% to 110,41/kg, 19 microns dropped 7.3% to R107,98/kg, 19,5 microns dropped 7.8% to 104,96/kg, 20 microns shed 7.9% to close at R102,85/kg, 20,5 microns were down 8.2% at R102,32/kg, 21 microns dropped 7.9% to R101,89/kg and 21,5 microns were 8.1% cheaper at R101,70/.
The next auction is scheduled for 4 September 2013 where approximately 9 000 bales will be offered.
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