Curtis Wool Direct

South African Market close lower (26 October 2016)

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Port Elizabeth – The wool market traded slightly lower this week and the Cape Wools Merino Indicator decreased by 0,9% and 133 points to close at a value of R152,20 (Clean). On the Australian market, the EMI increased 0,6%. The Cape Wools All Wool Indicator lost 1,1%.

The wool market was firm and held on to most of its recent gains despite the indicator receding slightly. The finer end of the market performed particularly well. Strong competition from the top three buyers bodes well for the rest of the season and is encouraging given the substantial quantities expected.

 

This week saw the rand at R13,76 to the US dollar. The rand strengthened by 1,0% against the US dollar compared with the average rate at the previous sale. The Rand gained 1,6% against the Euro, trading at R15,01. The offering comprised of 9 723 bales of which 99,0% was sold. Major traders were G Modiano SA (2 916), Standard Wool SA (2 612), Lempriere SA (2 413), and Stucken & Co (1 064).

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 0,7% to close at R168,90/kg; 18,5 microns decreased 0,8% to close at R167,11/kg; 19 microns increased 0,6% to close at R164,40/kg; 19,5 microns were unchanged at R159,29/kg; 20 microns decreased with 0,9% to close at R151,96/kg; 20,5 microns decreased 1,2% to close at R147,95/kg; 21,0 microns lost 2,5% to close at R145,27/kg; 21,5 microns dropped 1,5 to close at R144,61/kg; 22,0 microns declined 1,2% to close at  R143,67/kg and 22,5 microns dropped -,2% to close at R144,54/kg.

Main buyers this week: G Modiano SA 2916 bales, Standard Wool SA 2612, Lempriere SA 2413, Stucken & Co 1064 bales.

 

The next sale is scheduled for 2 November 2016 where approximately ±12 013 bales will be on Sale.

 

Source: Cape Wool SA

 

 

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