Curtis Wool Direct

South African Wool Market 1,0% Lower (23 November 2016)

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Port Elizabeth – The wool market traded 1,0% lower this week and the Cape Wools Merino Indicator decreased by 152 points to close at a value of R153,18 (Clean). On the Australian market, the EMI increased3,2%. The Cape Wools All Wool Indicator lost0,5%.

The wool market invariably reflected the Rand’s intraday gains to the US Dollar which saw prices ease slightly. The demand for South African wool remains healthy and practically all wool delivered to market was taken up. As was expected the longer and better quality wool outperformed the shorter and inferior types.

The competition between buyers was intense with Standard Wools and Modiano vying for each lot.

This week saw the Rand at R14,11 to the US dollar. The Rand strengthened by 0,7% against the US Dollar compared with the average rate at the previous sale. The Rand gained1,7% against the Euro, trading at R14,97. The offering comprised of 12096 bales of which 97% was sold. Major traders were Standard Wool SA (4 219), Modiano (3 974),Lempriere SA (2 075) and Stucken& Co (1033).

The average clean prices for the selection within the different micron categories for good top-making (MF5), long fleeces were as follows: 18,0 micronsgained1,7% to close at R171,24/kg; 18,5 microns increased0,2% to close at R162,71/kg; 19 microns increased0,6% to close at R163,58/kg; 19,5 microns lost0,9%to close at R158,70/kg; 20 microns decreased with 1,9% to close at R155,59/kg; 20,5 microns remained unchanged to close at R147,31/kg; 21,0 microns lost1,1% to close at R144,17/kg; 21,5 microns decreased2,2%to close atR141,91/kg; 22 microns dropped1,0%to close at R143,07/kg and 22,5 microns lost1,7%to close at R140,17/kg.

The next sale is scheduled for 30November 2016 where approximately 13 024 bales will be on sale.

The detailed Seasonal Receivals Declared Report can be viewed at www.capewools.co.za

Source: Cape Wools SA

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