The wool market again traded stronger at this week’s auction and the Cape Wools Merino Indicator increased by 6,3% and by 1 140 points to close at a value of R193,39 for clean wool. The Australian EMI gained 3,1% this week. The Cape Wools All Wool Indicator gained 6,0%.
The wool market delivered excellent returns with equal contributions from a weakening Rand and excellent demand for good quality long wool. Prices increased across the board with the fine to coarser ends benefitting. Buyers paid record prices for the second week running, breaking the R200/kg resistance level.
There was fierce competition with Modiano purchasing the largest volume of bales on offer today.
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 5,0% to close at R241,31/kg
- 18,5 microns moved up 6,1% to close at R229,18/kg
- 19,0 microns gained 5,5% to close at R212,77/kg
- 19,5 microns strengthened by 6,9% to close at R202,99/kg
- 20,0 microns was 6,9% stronger to close at R191,73/kg
- 20,5 microns won 5,6% to close at R180,89/kg
- 21,0 microns increased 5,4% to close at R175,90/kg
- 21,5 microns improved by 5,6% to close at R169,83/kg
- 22,0 microns rose 6,0% to close at R166,20/kg
- 22,5 microns increased by 3,4% to close at R158,77/kg
The next sale is scheduled for 08 November 2017 where approximately 10 000 bales will be on sale. – Market report