The wool market was stronger at this week’s sale and the Cape Wools Merino indicator gained 2.5% on last week to close at R112,41/kg (clean).
This was in line with the Australian market where the indicator rose 0.5%. Traders say there was a solid demand for good quality long top-making fleeces from the various Chinese and European sectors. The small weekly offerings the last few weeks may have also supported the current price levels.
The rand on the day remained fairly unchanged and was 0.5% weaker at R9,86 against the US dollar, compared with last week’s average rate, and weakened 1.5% against the euro at R13,30.
Prices were up across the board with the stronger wools posting the biggest increases.
A total of 7 160 bales were on offer, of which 99.5% was sold. Most active traders were Lempriere (1 810), Modiano (1 601), Standard Wool (1 516) and Stucken & Co (1 372).
The average clean prices for the different categories good top-making (MF5), long fleeces were as follows: 18,5 microns strengthened by 2% to R117,93/kg, 19 microns rose 1.5% to R117,12/kg, 19,5 microns strengthened by 1.8% to R115,39/kg, 20 microns rose 3.1% to close at R113,49/kg, 20,5 microns were up 3.3% at R112,39/kg, 21 microns rose 3.4% to R112,20/kg, 21,5 microns were 3.4% dearer at R111,69/kg and 22 microns were up 3.2% to close at R111,38/kg.
The next sale is scheduled for 2 October where approximately 7 000 bales will be on offer.
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