The wool market reacted positively to favourable trade news and the Cape Wools Merino Indicator increased with 1,8% and by 316 points to close at a value of R177,27 for clean wool. On the Australian market, the EMI lost 0,1% this week. The Cape Wools All Wool Indicator increased by 1,9%.
Market demand for Merino wool remains strong across all micron ranges with the finer and broader ends benefitting most today. The mid-micron ranges showed smaller gains for long wool yet surprisingly did better with medium length.
This was a fair sized auction which saw buyers competing vigorously in a market driven by the positive consumer sentiment towards Merino wool.
The average clean prices for the selection within the different micron categories for good top-making (MF5), long fleeces were as follows:
- 18,0 microns increased 2,7% to close at R213,49/kg;
- 18,5 microns moved 2,6% up to close at R207,04/kg;
- 19,0 microns gained 2,8% to close at R193,58/kg;
- 19,5 microns strengthened by 2,0% to close at R180,21/kg;
- 20,0 microns was 2,2% stronger to close at R173,19/kg;
- 20,5 microns won 1,6% to close at R167,72/kg;
- 21,0 microns recovered 2,2% to close at R166,58/kg;
- 21,5 microns improved by 2,2% to close at R164,28/kg;
- 22,0 microns rose 2,0% to close at R159,59/kg and
- 22,5 microns climbed by 3,2% to close at R159,47/kg.
The next sale is scheduled for 27 September 2017 where approximately 5 706 bales will be on sale. –Market report