Curtis Wool Direct

South African wool Market Report (24 October 2018)

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Port Elizabeth – The wool market traded lower at this week’s auction and the Cape Wools Merino Indicator decreased by 5,0% and by 1,110 points to close at a value of R212,14/kg (Clean). The Australian EMI lost 4,7% this week. The Cape Wools All Wool Indicator declined 5,2%.

The wool market continued its decline this week reaching levels as at the end of the previous season due to lower demand for both long and medium length, fine Merino wool. Long wool prices reduced equally across the board whilst medium length fine wool and the shorter lengths were impacted severely. The stronger Rand again negatively influenced pricing. Only 88% of a fair-sized offering was sold.

Modiano SA bought the most bales at the auction.

This week saw the Rand at R14,28 to the US Dollar and R16,30 to the Euro. The Rand was0,4% weaker against the US Dollar and 0,7% stronger against the Euro, compared with the average rate at the previous sale. The offering comprised 7 113 bales of which 88,7% was sold. Major traders were Modiano (2 263), Standard Wool SA (1 559), Tianyu SA (1 008) and Lempriere SA (870).

The average clean prices for the selection within the different micron categories for good top-making (MF5), long fleeces were as follows: 18 microns decreased6,4% to close at R241,00/kg; 18,5 microns moved 4,9% down to close at R239,55/kg; 19 microns lost5,3% to close at R229,37/kg; 19,5 microns weakened by5,3% to close at R228,50/kg; 20 microns was 4,6% weaker to close at R222,97/kg; 20,5 microns lost5,2% to close at R218,22/kg; 21 microns lost 5,0% to close at R218,28/kg; 21,5 microns decreased by 5,0%to close at R209,49/kg; 22 microns decreased4,5%to close at 207,73/kg and 22,5 microns was unchanged to close at R216,85/kg.

The next sale is scheduled for 31 October 2018 where approximately ±11 662 bales will be on sale.

Source: Cape Wools SA

 

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