Slight increase in wool market

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Merinowol, wol, wol, wool

A smaller volume of 7 665 bales was on offer at this week’s wool sale after 712 bales were withdrawn prior to the sale. An overall sales clearance of 92,69% was achieved.

The wool market performed well on Wednesday, closing 0,9% up from the previous sale at R156,96/kg, while having to contend with a South African currency that was trading 1,6% stronger against the United States (US) currency and the market gaining 2,47% in US dollar terms.

Some 70% of the offering consisted of 20 micron and finer wools, with similar volumes of long and medium length wools on offer.

The finer micron Merino fleece wools experienced good competition and outperformed the market. However, the broader micron categories traded softer and dragged the market down.

The Australian market saw good performance on Tuesday and softened slightly on Wednesday, to close the week with a 1,63% increase from the previous sale on Thursday 15 April.

Average price category in the wool market

The average clean prices for the selection within the different micron categories for good top-making (MF5), long fleeces were as follows:

  • 18 microns increased by with 2,7% to close at R209,44/kg.
  • 18,5 microns moved up by 1,4% to close at R197,68/kg.
  • 19 microns gained 1,3% to close at R186,65/kg.
  • 19,5 microns strengthened by 0,5% to close at R170,93/kg.
  • 20 microns was 0,7% stronger to close at R153,16/kg.
  • 20,5 microns won 1,5% to close at R147,99/kg.
  • 21 microns recovered 0,4% to close at R145,36/kg.
  • 21,5 microns tumbled by 2,8% to close at R137,61/kg.
  • 22 microns fell by 2,1% to close at R138,12/kg.
  • 22,5 microns declined by 1,4% to close at R129,55/kg.

The next auction is scheduled for 28 April 2021, where approximately 9 224 bales will be on sale. View last week’s report here. – Press release, Cape Wools SA