Curtis Wool Direct

Cape Wools Weekly Market Report (24 August 2016)

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The wool market continued its good run and the Cape Wools Merino indicator increased by 4,7% and by 689 points to close at a value of R153,70 (Clean). On the Australian market, the EMI increased 1,1%. The Cape Wools All Wool Indicator also increased by 4,7%.

The buyers commented that medium length wool traded at a discount to long wool with the longer and better quality wool receiving a premium. The relatively small auction was well supported by the weakening of the Rand.

 

This week saw the rand at R14,05 to the US dollar. The rand weakened by 4,7% against the US dollar compared with the average rate at the previous sale. The Rand weakened 4,8% against the Euro, trading at R15,85. The offering comprised of 6 808 bales of which 98,2% was sold. Major traders were G Modiano SA (1 997), Standard Wool SA (1 750), Lempriere SA (1 469), and Stucken & Co (797).

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 gained 5,8% to close at R163,58/kg; 18,5 microns increased 3,8% to close at R161,70/kg; 19 microns increased 5,0% to close at R161,04/kg; 19,5 microns gained 5,4% to close at R160,15/kg; 20 microns increased with 4,1% to close at R158,14/kg; 20,5 microns increased 4,3% to close at R158,33/kg; 21,0 microns gained 2,4% to close at R154,66/kg; 21,5 microns gained 4,5% to close at R157,91/kg; 22,0 microns increased 4,3% to close at R155,98/kg and 22,5 microns increased 5,4% to close at R150,83/kg.

The next sale is scheduled for 07 September 2016 where approximately ±9 474 bales will be on Sale.

Source: Cape Wool SA

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