Cape Wools Merino indicator gains 3.6% this week

The demand from China, weaker rand and good competition for top quality wool at this week’s sale assisted in pushing the prices higher.

The rand on the day traded 3.4% weaker at R10.17 against the US dollar, compared with last week’s average rate, and weakened 1.6% against the euro at R13.74.

It was a fairly large sale with 12 928 bales offered, of which 98% was sold. The most active traders were Standard Wool (3 865), Modiano (3 156), Lempriere (2 430) and Stucken & Co (1 341).

Wool prices rose across the board with the finer types posting the greatest increases.

The average clean prices for the different categories good top-making (MF5), long fleeces were as follows: 18 microns were up 5.6% at R125,41/kg, 18,5 microns strengthened by 5.2% to R123,16/kg, 19 microns gained 3.8% to R121,00/kg, 19,5 microns rose 3.4% to close at R118,43/kg , 20 microns were up 2.7% to close at R115,49/kg, 21 microns gained 3.5% at R115,14/kg, 21,5 microns were 4.4% dearer at R115,19/kg and 22 microns were up 1% to close at R111,29/kg.

The next sale is scheduled for 13 November where approximately 12 000 bales will be on offer.

Cape Wools