The wool market traded higher at this week’s auction and the Cape Wools Merino Indicator increased by 0,7% and by 146 points to close at a value of R206,14/kg for clean wool. The Australian EMI lost 1,5% this week.
The Cape Wools All Wool Indicator increased by 0,5%. The wool market increased today primarily due to the slightly weaker Rand. Market demand was unchanged from last week with long and fine Merino wool still in high demand.
Receivals at broker stores are markedly down also due to the absence of wool from Lesotho. Modiano bought the most bales at the auction today. This week saw the Rand at R14,38 to the US Dollar and R16,23 to the Euro.
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 1,4% to close at R235,10/kg
- 18,5 microns moved 1,6% up to close at R234,79/kg
- 19 microns gained 1,8% to close at R225,22/kg
- 19,5 microns strengthened by 1,4% to close at R222,44/kg
- 20 microns was 1,3% stronger to close at R218,38/kg
- 20,5 microns won 1,2% to close at R216,78/kg
- 21 microns recovered 1,1% to close at R216,16/kg
- 21,5 microns improved by 1,7% to close at R209,80/kg
- 22 microns increased by 1,8% to close at 207,38/kg
- 22,5 microns increased by 0,3% to close at R208,05/kg
The next sale is scheduled for 21 November 2018 where approximately 9 891 bales will be on sale. – Market report