Curtis Wool Direct

South Africa Wool Market Report (18 January 2017)

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Port Elizabeth – The wool market traded 2,8% higher this week and the Cape Wools Merino Indicator increased by 431 points to close at a value of R158,85 (Clean). On the Australian market, the EMI increased1,8%. The Cape Wools All Wool Indicator gained 3,5%.

The wool market maintained its momentum and increased with a further 2,8%. Concerns on the declining supply of good quality wool on offer linked to the impending festivities in China impacted the market with the finer side benefitting substantially. The market is now trading well above the 15,000 (Clean) level and is expected to remain within this vicinity for the remainder of the season. The quantity of wool expected to reach the market towards the end of the season is expected to decline.

The competition between buyers particularly on the better quality wool was good.

This week saw the Rand at R13,55 to the US Dollar. The Rand strengthened by 1,2% against the US Dollar compared with the average rate at the previous sale. The Rand lost 0,2% against the Euro, trading at R14,47. The offering comprised of 14123 bales of which 97,9% was sold. Major traders were Lempriere SA (4 346), Modiano (4 184), Standard Wool SA (3 089) and Stucken& Co (1 475).

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 gained4,7% to close at R184,62/kg; 18,5 microns increased 3,2% to close at R180,69/kg; 19 microns increased 3,2% to close at R175,10/kg; 19,5 microns gained 3,3%to close at R166,32/kg; 20 microns increased with 2,0% to close at R160,79/kg; 20,5 microns gained 2,2% to close at R151,33/kg; 21,0 microns gained 1,5% to close at R148,90/kg; 21,5 microns increased 1,3% to close at R147,84/kg; 22 microns gained 0,2% to close at R144,37/kg and 22,5 microns decreased 0,7% to close at R142,47/kg.

The next sale is scheduled for 25 January 2017 where approximately ±9 933 bales will be on sale.

 

Source: Cape Wools

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