South African Wool Market Report (8 February)
The wool market traded 1,9% higher this week and the Cape Wools Merino Indicator increased by 306 points to close at a value of R161,96 (Clean). On the Australian market, the EMI increased1,0%. The Cape Wools All Wool Indicator gained 0,5%.
A small amount of wool comprising only 6863 bales was offered for sale today of which 67% was rated average to inferior. This resulted in keen competition for the better quality good top-maker and spinner types. Prices increased across the board with the finer end benefitting most due to the trending good demand. Buyers commented that the market had favoured the sellers.
This week saw the Rand at R13,46 to the US Dollar. The Rand was unchanged against the US Dollar compared with the average rate at the previous sale. The Rand gained1,2% against the Euro, trading at R14,34. The offering comprised of 6863 bales of which 97,2% was sold. Major traders were Modiano (2 803), Standard Wool SA (1 570), Lempriere SA (1 098)and Stucken& Co (874).
The average clean prices for the selection within the different micron categories for good top-making (MF5), long fleeces were as follows: 18,0 micronsgained2,7% to close at R191,80/kg; 18,5 microns increased2,5% to close at R183,96/kg; 19 microns gained2,7% to close at R179,54/kg; 19,5 micronsincreased3,1%to close at R170,25/kg; 20 microns increased with 2,8% to close at R160,51/kg; 20,5 microns moved up1,2% to close at R150,43/kg; 21,0 microns strengthened0,6% to close at R147,24/kg; 21,5 microns increased2,3%to close atR145,52/kg; 22 microns gained2,0%to close at R142,93/kg and 22,5 microns increased2,2%to close at R143,75/kg.
The next sale is scheduled for 15 February 2017 where approximately ±12 287bales will be on offer.
Source: Cape Wool SA