The wool market traded lower and the Cape Wools Merino Indicator decreased by 2,8% and by 517 points to close at a value of R180,43 for clean wool. The Australian EMI decreased by 2,1% this week. The Cape Wools All Wool Indicator decreased by 2,8%.
The South African wool market has traded dearer than its counterparts and this week both markets experienced a correction and prices eased across all types. Demand for quality long and fine wool remains strong and they performed fairly whilst the medium length and coarser end declined sharply. Buyers remain concerned about the decline in the offering of wool to the market.
Competition between buyers was good with Modiano buying the most bales on offer.
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 decreased 2,0% to close at R221,55/kg
- 18,5 microns moved 2,9% down to close at R207,63/kg
- 19,0 microns lost 3,5% to close at R195,63/kg
- 19,5 microns weakened by 3,6% to close at R183,47/kg
- 20,0 microns was 3,3% weaker to close at R178,47/kg
- 20,5 microns lost 2,2% to close at R176,33/kg
- 21,0 microns lost 2,6% to close at R170,63/kg
- 21,5 microns decreased by 0,6% to close at R170,11/kg
- 22,0 microns decreased by 2,2% to close at R166,06/kg
- 22,5 microns declined by 3,8% to close at R160,13/kg
The next sale is scheduled for 14 March 2018 where approximately 5 911 bales will be on sale. – Market report