Curtis Wool Direct

South African Wools Market Report (13 March 2019)

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Port Elizabeth – The wool market ended lower at this weeks’ auction and the Cape Wools Merino Indicator decreased by 3,3% and by 736 points to close at a value of R214,42 (Clean). The Australian EMIlost1,3% this week. The Cape Wools All Wool Indicator lost by 3,3%.

Although the offering consisted of good quality long fine wools, the market came under pressure due to the continuous limitation on export of wool to China. The shorter wools were under more pressure, as buyers are forced to make their selection criteria stricter within the current trading environment. Sustainable clips once again achieved premium prices on today’s auction.

The market ‘declined by 4.2% in US terms from last week, highlighting the difficult trading environment.

This week saw the Rand at R14,34 to the US Dollar and R16,19 to the Euro. The Rand was0,9% weaker against the US Dollar and 0,8% weaker against the Euro compared with the average rate at the previous sale. The offering comprised 6 582 bales of which 90,2% was sold. Major traders were Standard Wool SA (1 838), G Modiano SA (1 666), Lempriere SA (1 059) and Tianyu SA (502).

The average clean prices for the selection within the different micron categories for good top-making (MF5), long fleeces were as follows: 18,0 micronsdecreased3,0% to close at R237,87/kg; 18,5 microns moved3,1% down to close at R235,65/kg; 19 microns lost3,2% to close at R232,99/kg; 19,5 microns weakened by3,4%to close at R228,66/kg; 20 microns was3,6% weaker to close at R225,32/kg; 20,5 micronslost2,8% to close at R221,05/kg; 21,0 microns lost3,1% to close at R216,02/kg; 21,5 microns tumbled by 0,7%to close atR214,58/kg; 22 microns fell2,4%to close at 213,76/kg and 22,5 microns declined by 1,4%to close at R211,73/kg.

The next sale is scheduled for 20March 2019where approximately ±5220 bales will be on sale.

 

Source: Cape Wool SA

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