Curtis Wool Direct

South African Weekly Market Report (26 April 2017)

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The wool market traded lower at this weeks’ auction and the Cape Wools Merino Indicator decreased by4,4% and by 729 points to close at a value of R159,44 (Clean). The Australian EMI gained 2,6% this week. The Cape Wools All Wool Indicator lost 4,4%.

After a good run, where the wool market had consistently traded higher for four consecutive periods, the tide eventually turned and the golden fiber shed some value. Fine, medium and strong wool all traded easier. The demand for good quality long fleece wool remains strong and despite the larger auction only 7% was left unsold. Competition was keen with Standard Wool purchasing the most wool at auction followed by Modiano, a close second.

This week saw the Rand at R13,16 to the US Dollar. The Rand was1,2% stronger against the US Dollar compared with the average rate at the previous sale. The Rand was 0,9% weaker against the Euro, trading at R14,35. The offering comprised of 11631 bales of which 94,4% was sold. Major traders were Standard Wool SA (3 654), Modiano (2 747), Lempriere SA (2 579) and Stucken& Co (1 247).

The average clean prices for the selection within the different micron categories for good top-making (MF5), long fleeces were as follows: 18,0 micronsdropped3,4% to close at R219,40/kg; 18,5 microns decreased3,9% to close at R213,32/kg; 19 microns lost4,3% to close at R193,63/kg; 19,5 micronsdecreased3,3%to close at R169,79/kg; 20 microns decreased with 5,1% to close at R155,04/kg; 20,5 microns moved down 4,3% to close at R147,55/kg; 21,0 microns weakened3,2% to close at R142,88/kg; 21,5 microns decreased4,3%to close atR139,66/kg; 22 microns lost5,4%to close at R131,16/kg and 22,5 microns decreased0,5%to close at R133,75/kg.

Main buyers this week: Standard Wool SA 3654 bales, G Modiano SA 2747, Lempriere SA 2579, Stucken & Co 1247, New England Wool SA 402, Segard Masurel SA 347.

The next sale is scheduled for 10 May 2017 where approximately ±6 281bales will be on sale.

Source: Cape Wool SA

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