The wool market traded higher at the most recent auction, and the Cape Wools Merino Indicator increased by 3,1% and by 563 points to close at a value of R189,87 for clean wool. The Australian EMI increased by 4,3% this week. The Cape Wools All Wool Indicator increased by 2,9%.
The wool market traded dearer across all micron groups with the finer microns gaining the most. As was the case last week, there was not a lot of wool on offer and, although deliveries have picked up at broker stores, supply constraint concerns remain. Market demand remains strong with the currency contribution negligible.
With smaller volumes on offer buyers were hard pressed to outdo their rivals and competition was fierce.
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 6,0% to close at R229,74/kg
- 18,5 microns was 3,6% higher to close at R218,82/kg
- 19,0 microns increased by 3,6% to close at R207,38/kg
- 19,5 microns strengthened by 2,3% to close at R195,88/kg
- 20,0 microns was 2,3% stronger to close at R185,78/kg
- 20,5 microns gained 2,0% to close at R178,77/kg
- 21,0 microns recovered 1,9% to close at R171,77/kg
- 21,5 microns improved by 2,5% to close at R168,63/kg
- 22,0 microns increased by 3,4% to close at R171,14/kg
- 22,5 microns increased by 3,5% to close at R166,31/kg
The next sale is scheduled for 14 February 2018 where approximately ± 10 223 bales will be on sale. – Market report