THE wool market traded slightly lower yesterday and the Cape Wools Merino Indicator decreased by 0,6% and by 112 points to close at a value of R183,84 (Clean). The Australian EMI gained 0,1% this week. The Cape Wools All Wool Indicator lost by 0,8%.
The wool market continued its good performance and capitalised on the continued good demand for quality long and fine wool. The Kerneels Greyling Trust received a record price of R216,80 /kg today for his 15.6 micron wool purchased by Standard Wool despite prices being softer for finer microns. The US Dollar did little to influence the wool market today.
Competition between buyers was good with Modiano buying the most bales at auction.
This week saw the Rand at R11,72 to the US Dollar and R14,45 to the Euro. The Rand was 1,2% stronger against the US Dollar and 1,5% stronger against the Euro, compared with the average rate at the previous sale. The offering comprised of 6 282 bales of which 98,8% was sold. Major traders were Modiano (1 689), Standard Wool SA (1 557), Tianyu SA (1 249), and Lempriere SA (789).
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 1,1% to close at R223,62/kg; 18,5 microns moved 1,1% down to close at R210,82/kg; 19 microns lost 0,9% to close at R199,21/kg; 19,5 microns weakened by 1,0% to close at R188,61/kg; 20 microns was 0,1% weaker to close at R183,25/kg; 20,5 microns won 0,8% to close at R177,05/kg; 21,0 microns recovered 1,5% to close at R172,28/kg; 21,5 microns improved by 0,9% to close at R168,23/kg; 22 microns rose 1,0% to close at R167,84/kg and 22,5 microns declined by 1,3% to close at R167,34/kg.
The next sale is scheduled for 28 February 2018 where approximately ± 8 440 bales will be on sale.
