SA Wool season finished on a high note

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.