Cape Wools Merino indicator sheds 2.2%

Prices nevertheless remain at high levels with the indicator up almost 28% on the opening sale and 9% higher than at the same sale last season.

The rand was fairly stable, but at lower levels than at the previous sale a fortnight ago week. At R9.25, it was down 0.9% against the US dollar, compared with the previous sale. At R11.85, it was slightly stronger against the euro.

It was a fairly big offering, comprising 13 475 bales of which 99% was sold Major buyers were Standard Wool (3429 bales), Lempriere SA (3 125 bales), Modiano (2957 bales), and Stucken & Co (2868 bales).

Prices were down across the board with the finer end of the market posting the largest decreases.

The average clean prices for the different categories good top-making (MF5), long fleeces were as follows: 18 microns were down 1.8% at R122.26/kg, 18.5 microns dropped 2.4% at R119.19/kg, 19 microns were 2.4% cheaper at R118.39/kg, 19.5 microns softened by 1.9% to R115.63/kg, 20 microns shed 1% to R113.35/kg, 20.5 microns dropped 1.3% to R112.09/kg, 21 microns weakened 1.1% to R111.72/kg, 21.5 microns were up 0.2% at R112.79/kg, and 22 microns were 0.7% cheaper to close at R112.11/kg. 

No sale has been scheduled for next week. Sales resume on 10 April when approximately 12000 bales will come under the hammer.

CapeWools