The wool market traded higher on 28 February 2018 and the Cape Wools Merino Indicator increased by 1,0% and by 176 points to close at a value of R185,60 for clean wool. The Australian EMI gained 1,1% this week. The Cape Wools All Wool Indicator gained by 1,6%.
The wool market maintained its good performance and the strong demand for quality long and fine wool was evident in the solid returns received across the board for long and medium length wool. The US Dollar had little influence on trade this week.
Competition between buyers was good with Modiano buying the most bales at auction, closely followed by Standard Wool.
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 1,1% to close at R226,12/kg
- 18,5 microns moved 1,4% up to close at R213,75/kg
- 19,0 microns gained 1,8% to close at R202,71/kg
- 19,5 microns strengthened by 1,0% to close at R190,42/kg
- 20,0 microns was 0,7% stronger to close at R184,56/kg
- 20,5 microns won 1,8% to close at R180,30/kg
- 21,0 microns recovered 1,7% to close at R175,15/kg
- 21,5 microns improved by 1,7% to close at R171,14/kg
- 22,0 microns rose 1,2% to close at R169,84/kg
- 22,5 microns declined by 0,5% to close at R166,47/kg
The next sale is scheduled for 7 March 2018 where approximately 11 496 bales will be on sale. – Market Report