Port Elizabeth – The wool market traded at similar levels experienced before the Christmas recess and the Cape Wools Merino Indicator remained at a value of R188,08 (Clean). The Australian EMI increased by 7,3 % this week. The Cape Wools All Wool Indicator was also unchanged.
The good start to the second half of the season confirms the consistently good demand for good quality long and fine wool. The market remained firm across all types and delivered good returns to producers despite the strengthened Rand. The volumes received at brokers’ stores are still lagging the previous season receipts.
Competition between buyers was good.
This week saw the Rand at R12,41 to the US Dollar and R14,85 to the Euro. The Rand was 8,3% stronger against the US Dollar and 7,2% stronger against the Euro, compared with the average rate at the previous sale. The offering comprised of 13 360 bales of which 97,8% was sold. Major traders were Modiano (4 272), Standard Wool SA (3 170), Lempriere SA (2 119) and Tianyu SA (2 009).
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 1,5% to close at R227,40/kg; 18,5 microns moved 1,2% down to close at R221,17/kg; 19 microns lost 1,1% to close at R206,83/kg; 19,5 microns weakened by 1,6% to close at R195,52/kg; 20 microns was 1,3% stronger to close at R185,21/kg; 20,5 microns increased by 1,5% to close at R175,97/kg; 21,0 microns recovered 0,4% to close at R170,85/kg; 21,5 microns improved by 0,1% to close at R163,62/kg; 22 microns rose 0,8% to close at R164,24/kg and 22,5 microns increased by 0,9% to close at R162,47/kg.
The next sale is scheduled for 17 January 2018 where approximately ±13 040 bales will be on sale.