Port Elizabeth – The wool market traded slightly higher today and the Cape Wools Merino Indicator increased by 0.6% and by 109 points to close at a value of R187,65 (Clean). The Australian EMI increased by 0,8% this week. The Cape Wools All Wool Indicator increased by 0,6%.
This season the market has experienced consistently good demand for good quality long and fine wool and today was again no exception. At the last sale before the December recess the market was firm across all types and delivered good returns to producers. The volumes received at brokers stores are still lagging the previous season receipts.
Competition between buyers was good.
This week saw the Rand at R13,53 to the US Dollar and R15,99 to the Euro. The Rand was 0,9% stronger against the US Dollar and 0,1% weaker against the Euro, compared with the average rate at the previous sale. The offering comprised of 12 974 bales of which 97,3% was sold. Major traders were Modiano (3 328), Standard Wool SA (3 196), Tianyu SA (2 490) and Lempriere SA (2 127).
The average clean prices for the selection within the different micron categories for good top-making (MF5), long fleeces were as follow: 18,0 microns decreased 2,1% to close at R230,96/kg; 18,5 microns increased by 2,3% to close at R223,77/kg; 19 microns increased by 1,3% to close at R209,14/kg; 19,5 microns strengthened by 0,4% to close at R198,65/kg; 20 microns was 0,4% weaker to close at R182,78/kg; 20,5 microns decreased by 0,4% to close at R173,40/kg; 21,0 microns lost 0,2% to close at R170,20/kg; 21,5 microns declined by 0,2% to close at R163,52/kg; 22 microns rose 0,9% to close at R162,88/kg and 22,5 microns gained 1,9% to close at R160,98/kg.
The next sale is scheduled for 10 January 2018.
