Port Elizabeth – The wool
market maintained its recent gains and the Cape Wools Merino indicator gained a
marginal 0,9% to close at R141, 20/kg (clean). This is 26 ,5% higher
compared to the opening sale of this season. In the Australian market, the
indicator increased by 2,0%. The Cape Wools All-Wool Indicator gained 0,9%.
Local
traders commented that on the day finer wool ended slightly dearer and coarser
wool slightly easier, but all in all a wonderful close to a successful season.
The Cape Wools Merino indicator is at an all-time high and expectations are
that the market will maintain its positive momentum at current levels going
into the new season.
The Rand on
the day traded 0,7% weaker at R12, 33 against the US dollar, compared with last
week’s average rate, and weakened 2,0% against the Euro at R13, 89. The offering
comprised of 10 369 bales, of which 98% was sold. Major traders were
Lempriere SA (4 004), Standard Wool SA (3 737) and G Modiano SA (1 716).
The weekly price monitor sample, limited to AWEX type MF5, 70-80mm,
VM<=2% wool only, experienced an average price movement as follows: 18 microns
were up by 1,7% to close at R152, 38/kg, 18,5 microns were unchanged at
R147, 46/kg, 19 microns gained 3,2% to close at R146, 90/kg, 19,5 microns rose
with 1,8% to close at R145, 07/kg, 20 microns lost 0,4% to close at R140, 57/kg,
20,5 microns increased with 1,9% to close at R140, 47/kg, 21 microns gained 2,1%
to close at R139, 32/kg, 21,5 microns strengthened by 1,9% to R137, 27/kg and 22
microns rose with 0,5% to close at R135, 76/kg.
The first sale of the new season is scheduled
for 12 August.
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