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2013-10-17
The upward trend in wool prices continued at this week’s sale and the Cape Wools Merino indicator gained 1.4% on last week to close at R116,69/kg (clean).
According to traders the increase was prompted by good demand from all sectors of the trade for good quality South African Merino wool. Demand from the Chinese market was also back on track this week, following their National holiday last week.
The rand on the day remained fairly unchanged and was 1.2% stronger at R9,97 against the US dollar, compared with last week’s average rate, and strengthened 1.3% against the euro at R13,49.
Prices were up across the board with the stronger wools posting the biggest increases.
A total of 11 002 bales were on offer, of which 99% was sold. Most active traders were Standard Wool (2 782), Lempriere (2 235), Stucken & Company (1 937), Modiano (1 659) and Infinite Wool (1 370).
The average clean prices for the different categories good top-making (MF5), long fleeces were as follows: 18 microns were up 2.3% at R124,17/kg, 18,5 microns strengthened by 2.1% to R122,91/kg, 19 microns rose 1.8% to R121,31/kg, 19,5 microns strengthened by 1.7% to R120,01/kg, 20 microns rose 2.7% to close at R118,50/kg, 20,5 microns were up 2.2% at R117,25/kg, 21 microns rose 1.9% to R116,86/kg, 21,5 microns were 1.5% dearer at R116,15/kg and 22 microns were up 1.4% to close at R115,09/kg.
The next sale is scheduled for 16 October where approximately 7 500 bales will be on offer.
Source:Cape Wools
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