The wool market kept up its sterling performance and the Cape Wools Merino Indicator gained 1,3% and 248 points to close at a value of R197,43 for clean wool. The Australian EMI gained 2,0% this week. The Cape Wools All Wool Indicator gained 1,6%.
It was an interesting two-day auction where two thirds of the offering tested finer than 20 micron and only half was longer than 60mm in length. The coarser wool managed to maintain good price levels whilst the excellent demand, in particular for 18-19,5 micron good quality long wool increased prices and resulted in a slightly dearer wool market.
Competition was good amongst buyers with Modiano and Standard Wool taking each other to task whilst newcomer Tianyu fights for market share.
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 1,4% to close at R245,13/kg
- 18,5 microns moved 1,4% up to close at R233,27/kg
- 19,0 microns gained 0,9% to close at R219,80/kg
- 19,5 microns strengthened by 0,9% to close at R206,29/kg
- 20,0 microns was 1,7% dearer to close at R193,89/kg
- 20,5 microns increased 1,1% to close at R183,91/kg
- 21,0 microns gained 0,4% to close at R178,16/kg
- 21,5 microns declined by 0,1% to close at R171,11/kg
- 22,0 microns rose 0,4% to close at R167,79/kg
- 22,5 microns gained by 1,3% to close at R164,31/kg
The next sale is scheduled for 22 November 2017 where approximately ±11 720 bales will be on sale. – Market report