Curtis Wool Direct

South Africa Wool Market Report (25 April 2018)

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Port Elizabeth – The wool market traded higher today and the Cape Wools Merino Indicator increased by 4,1% and by 741 points to close at a value of R189,54 (Clean). The Australian EMI increased by 2,3% this week. The Cape Wools All Wool Indicator increased by 4,6%.

The wool market maintained its strong performance and closed firmer due primarily to the continued excellent demand for quality long and fine wool. This was another smaller sized auction of which the majority of wool on offer was of medium length and tested fine. The weaker Rand increased producer returns and is a welcome relief given the reduced seasonal deliveries to broker stores which remain lower to the previous season to date.

Competition between buyers was good with Modiano buying the most bales on offer.

This week saw the Rand at R12,42 to the US Dollar and R15,15 to the Euro. The Rand was3,7% weakeragainst the US Dollar and 2,2% weaker against the Euro, compared with the average rate at the previous sale. The offering comprised of 7609 bales of which 98,6% was sold. Major traders wereModiano (2 557), Standard Wool SA (2 397), Tianyu SA (1 329) andLempriere SA (518).

The average clean prices for the selection within the different micron categories for good top-making (MF5), long fleeces were as follows: 18,0 micronsincreased4,6% to close at R227,61/kg; 18,5 microns moved4,6% up to close at R215,75/kg; 19 microns gained4,0% to close at R198,67/kg; 19,5 micronsstrengthened by3,6%to close at R192,37/kg; 20 microns was 3,7% stronger to close at R190,84/kg; 20,5 micronswon4,5% to close at R189,13/kg; 21,0 microns rose4,9% to close at R189,34/kg; 21,5 microns improved by 5,6%to close atR183,97/kg; 22 microns rose 4,6%to close at R181,19/kg and 22,5 microns gainedby 4,6%to close at R175,69/kg.

The next sale is scheduled for 09May 2018 where approximately ± 7 482bales will be on sale.

Source: Cape Wools SA

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