THE wool market traded higher yesterday and the Cape Wools Merino Indicator increased by 2,0% and by 375 points to close at a value of R191,83 (Clean). The Australian EMI increased by 0,6% this week. The Cape Wools All Wool Indicator increased by 2,5%.
The wool market continued its strong performance and the good demand for quality long and fine wool continued unabated. The market traded dearer across all micron groups without exception with the finer end gaining the most. Buyers mentioned a definite preference for longer wool given potential future supply constraint concerns.
Competition between buyers was excellent and Segard Masurel’s competition ensured that no single buyer could dominate.
This week saw the Rand at R12,30 to the US Dollar and R15,05 to the Euro. The Rand was 0,9% stronger against the US Dollar and 1,4% weaker against the Euro, compared with the average rate at the previous sale. The offering comprised of 13 024 bales of which 96,6% was sold. Major traders were Modiano (3 332),Standard Wool SA (3 140), Lempriere SA (2 553) and Tianyu SA (1 688).
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 2,7% to close at R233,57/kg; 18,5 microns moved 2,1% up to close at R225,89/kg; 19 microns gained 2,7% to close at R212,49/kg; 19,5 microns strengthened by 3,5% to close at R202,28/kg; 20 microns was 3,1% stronger to close at R190,88/kg; 20,5 microns won 3,9% to close at R182,85/kg; 21,0 microns recovered 3,4% to close at R176,70/kg; 21,5 microns improved by 3,3% to close at R169,06/kg; 22 microns rose 2,1% to close at R167,76/kg and 22,5 microns increased by 0,4% to close at R163,16/kg.
The next sale is scheduled for 24 January 2018 where approximately ± 8 185 bales will be on sale.
