The wool market traded slightly softer yesterday and the Cape Wools Merino Indicator decreased with 1,4% and by 258 points to close at a value of R179,20 (Clean). On the Australian market, the EMI gained 0,5% this week. The Cape Wools All Wool Indicator decreased by 1,4%.
The wool market offering consisted of an even spread across the long and medium length wool. There was excellent demand for the finer wool although buyers mentioned some price resistance forming at these levels. The coarser wool declined markedly possibly due to volumes increasing as the larger seasonal deliveries come on stream.
Competition between buyers was fierce with Tianyu SA buying the largest volume of bales.
This week saw the Rand at R13,46 to the US Dollar and R15,82 to the Euro. The Rand was 1,0% stronger against the US Dollar and 1,6% stronger against the Euro, compared with the average rate at the previous sale. The offering comprised of 9 197 bales of which 97,9% was sold. Major traders were Tianyu SA (2 643), Modiano (2 602), Standard Wool SA (2 224) and Lempriere SA (749).
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 1,0% to close at R227,50/kg; 18,5 microns moved 0,2% up to close at R214,30/kg; 19 microns lost 0,6% to close at R200,14/kg; 19,5 microns weakened by 1,8% to close at R187,93/kg; 20 microns was 1,7% weaker to close at R177,14/kg; 20,5 microns lost 0,3% to close at R170,89/kg; 21,0 microns lost 0,9% to close at R165,34/kg; 21,5 microns tumbled by 2,8% to close at R161,27/kg; 22 microns fell 2,6% to close at R157,25/kg and 22,5 microns declined by 3,3% to close at R154,30/kg.
The next sale is scheduled for 25 October 2017 where approximately ±9 691 bales will be on sale.
