THE wool market again traded lower at this week’s auction and the Cape Wools Merino Indicator decreased by 1,9% and by 298 points to close at a value of R155,59 (Clean).
The Australian EMI lost 2,1% this week. The Cape Wools All Woo
Demand for longer wool was good today and prices for well-grown wool in this segment ended dearer. The finer end eased as demand at these higher price levels subsided. The short and medium length wool remained under pressure as volumes on offer have increased. Standard Wool outbid it’s competition on more than half of the bales on offer.
This week saw the Rand at R13,11 to the US Dollar. The Rand was 0,9% weaker against the US Dollar compared with the average rate at the previous sale. The Rand was 0,9% weaker against the Euro, trading at R14,67. The offering comprised of 6 855 bales of which 94,8% was sold. Major traders were Standard Wool SA (2 915), Modiano (1 618), Lempriere SA (1 387) and Stucken & Co (303).
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 decreased 4,1% to close at R208,55/kg; 18,5 microns decreased 3,5% to close at R204,15/kg; 19 microns lost 3,1% to close at R184,19/kg; 19,5 microns moved down 2,7% to close at R164,60/kg; 20 microns increased with 0,2% to close at R155,84/kg; 20,5 microns moved up 1,2% to close at R151,63/kg; 21,0 microns strengthened 1,1% to close at R147,54/kg; 21,5 microns increased 1,2% to close at R141,96/kg; 22 microns gained 3,3% to close at R137,05/kg and 22,5 microns decreased 1,7% to close at R133,54/kg.
The next sale is scheduled for June 7 where approximately 13 165 bales will be on sale. – Cape Wools SA
