Despite a large offering the wool market held up on last week’s gains and the Cape Wools Merino Indicator closed the day up by a marginal 0,3% at R115,00.
This is 12,8% higher compared to the opening sale of this season and up 16,5% compared to the corresponding sale of the previous season.
Good competition and good demand from Europe and China for good quality long wool resulted in a 97% clearance of the 13 229 bales offered at this week’s sale.
The rand on the day traded 1,9% stronger at R10,13 against the US dollar, compared with last week’s average rate and gained 1,1% against the euro at R13,72.
The most active traders were Modiano (3 621), Standard Wool (2 965), Lempriere (2 936) and Stucken & Co (1 529).
The average clean prices for the different categories good top-making (MF5), long fleeces were as follows: 18 microns were up by 1,7% to R124,28/kg, 18,5 microns weakened by 0,6% to R122,68/kg, 19 microns gained 0,3% to R121,98/kg, 19,5 microns rose 0,1% to close at R119,39/kg , 20 microns were down 0,4% to close at R115,95/kg, 20.5 microns lost 0,5% at R114,95/kg, 21 microns were 0,6% dearer at R115,50/kg, 21.5 microns rose 0,5% to R115,15/kg and 22 microns were down 0,2% to close at R114,13/kg.
The next sale for this year is scheduled for 27 November where approximately 11 500 bales will be on offer.
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