SOUTH AFRICA – WOOL MARKET MAINTAINS RECORD LEVELS
The wool market traded slightly higher at this weeks’ auction and the Cape Wools Merino Indicator increased by 0,5% and 85 points to close at a value of R163,85 (Clean). On the Australian market, the EMI decreased 1,2%. The Cape Wools All Wool Indicator increased 1,0%.
The wool market performed exceptionally well today despite the volatility on the forex market and increased by 0,5%. Good quality fine wool was highly sought after and traded on average 3% higher.
Segard Masurel impressed when they purchased wool of 20 microns from Mr BP Greyling of Wakkerstroom for a new record price of R172,70 per kilogram (greasy). The majority of the offering was fine and of medium length which fueled strong
Modiano purchased the largest quantity of bales, nearly 30% more than their closest rival.
This week saw the Rand at R13,07 to the US Dollar. The Rand was 3,4% weaker against the US Dollar compared with the average rate at the previous sale.
The Rand was 3,2% weaker against the Euro, trading at R14,10. The offering comprised of 6 963 bales of which 98,0% was sold. Major traders were Modiano (2 019), Standard Wool SA (1 549), Lempriere SA (1 512) and Stucken & Co (1 029).
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 2,9% to close at R218,59/kg; 18,5 microns increased 1,4% to close at R207,23/kg; 19 microns gained 4,2% to close at R196,74/kg; 19,5 microns increased 3,0% to close at R175,98/kg; 20 microns increased with 1,2% to close at R157,59/kg; 20,5 microns moved up 1,9% to close at R149,99/kg; 21,0 microns strengthened 0,2% to close at R147,60/kg; 21,5 microns increased 1,5% to close at R139,60/kg; 22 microns gained 2,2% to close at R139,46/kg and 22,5 microns decreased 2,5% to close at R134,36/kg.
The next sale is scheduled for 05 April 2017 where approximately ±6 845 bales will be on sale.
Source: Cape Wool SA