THE wool market in the Eastern Cape maintained its recent gains after a solid day’s trade and increased by 0,8%, and by 156 points to close at a value of R194,95 (Clean). The Australian EMI gained 2,8% this week. The Cape Wools All Wool Indicator gained 0,8%.
A solid market characterised by good demand for all wool on offer with good quality long wool, again most sought after and enjoying top prices. Fine wool performed well and buyers again paid record prices for exceptional lots.
Modiano bought the most bales at the auction in Port Elizabeth amid fierce competition from its rivals.
This week saw the Rand at R14,20 to the US Dollar and R16,47 to the Euro. The Rand was 0,5% weaker against the US Dollar and 0,2% weaker against the Euro, compared with the average rate at the previous sale. The offering comprised of 10 115 bales of which 98,6% was sold. Major traders were Modiano (3 126), Standard Wool SA (2 598), Tianyu SA (1 903) and Lempriere SA (1 472).
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 0,2% to close at R241,73/kg; 18,5 microns moved 0,4% up to close at R230,12/kg; 19 microns gained 2,4% to close at R217,89/kg; 19,5 microns strengthened by 0,7% to close at R204,51/kg; 20 microns was 0,5% weaker to close at R190,69/kg; 20,5 microns won 0,5% to close at R181,85/kg; 21,0 microns increased by 0,9% to close at R177,44/kg; 21,5 microns strengthened by 0,9% to close at R171,33/kg; 22 microns rose 0,6% to close at R167,18/kg and 22,5 microns increased by 2,2% to close at R162,27/kg.
The next sale is scheduled for 15 November 2017 where approximately ±12 657 bales will be on sale.
