Latest on the wool market

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The wool market traded dearer today and the Cape Wools Merino Indicator increased with 1,2% and by 219 points to close at a value of R181,78 (Clean). On the Australian market, the EMI increased with 1,6% this week. The Cape Wools All Wool Indicator increased by 1,4%.

The wool market got off to a strong start yet softened as the day progressed. The offering consisted of mostly longer and fine wool for which there is growing demand. Medium lengths at the finer end softened with the coarser wool maintaining their gains to end dearer. The finer microns received good support.

This was again a fair-sized auction and buyers competed strongly for the declining volumes received at broker stores.

This week saw the Rand at R13,59 to the US Dollar and R16,07 to the Euro. The Rand was unchanged against the US Dollar and 0,6% weaker against the Euro, compared with the average rate at the previous sale. The offering comprised of 8 511 bales of which 98,8% was sold. Major traders were Modiano (2 516), Tianyu SA (2 097), Standard Wool SA (1 851) and Lempriere SA (769).

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 increased 3,3% to close at R229,79/kg; 18,5 microns moved 0,7% up to close at R213,87/kg; 19 microns gained 1,3% to close at R201,26/kg; 19,5 microns strengthened by 2,1% to close at R191,46/kg; 20 microns was 1,9% stronger to close at R180,19/kg; 20,5 microns won 0,5% to close at R171,49/kg; 21,0 microns recovered 0,8% to close at R166,81/kg; 21,5 microns improved by 2,7% to close at R165,94/kg; 22 microns rose 0,3% to close at R161,50/kg and 22,5 microns climbed by 1,9% to close at R159,58/kg.

The next sale is scheduled for 18 October 2017 where approximately ±9 339 bales will be on sale.

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