Wool market trades higher

THE wool market traded higher at this week’s auction and the Cape Wools Merino Indicator increased by 1,6% and 259 points to close at a value of R164,31 (Clean). On the Australian market, the EMI increased 1,4%. The Cape Wools All Wool Indicator gained 2,0%.

The wool market performed particularly well yesterday and traded 1,6% higher. The market got off to a good start with buyers chasing the finer end of the market whilst the coarser wool came under pressure and lost some value. There was good competition for the better and longer wool with Modiano just beating Standard Wool to the post for most bales purchased at auction.

This week saw the Rand at R13,07 to the US Dollar. The Rand was 0,6% weaker against the US Dollar compared with the average rate at the previous sale. The Rand was 1,2% stronger against the Euro, trading at R13,88. The offering comprised of 8 229 bales of which 98,3% was sold. Major traders were Standard Wool SA (2 620), Modiano (2 534), Lempriere SA (1 570) and Stucken & Co (823).

The average clean prices for the selection within the different micron categories for good top-making (MF5), long fleeces were as follows: 18,0 microns gained 3,9% to close at R208,95/kg; 18,5 microns increased 2,3% to close at R201,72/kg; 19 microns gained 1,2% to close at R187,03/kg; 19,5 microns increased 0,8% to close at R171,39/kg; 20 microns increased with 1,4% to close at R159,04/kg; 20,5 microns moved up 1,3% to close at R149,76/kg; 21,0 microns strengthened 1,1% to close at R147,40/kg; 21,5 microns increased 0,2% to close at R143,58/kg; 22 microns gained 0,1% to close at R141,66/kg and 22,5 microns increased 0,8% to close at R144,13/kg.

The next sale is scheduled for March 22 where approximately 5 064 bales will be on sale.

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