The wool market traded lower at this week’s auction and the Cape Wools Merino Indicator decreased by 3,8% and by 892 points to close at a value of R223,24/kg for clean wool. The Australian EMI lost 1,2% this week. The Cape Wools All Wool Indicator declined 3,9%.
The wool market declined this week due to lower market demand for both long and medium length, fine Merino Wool. Long wool prices reduced fairly equally across the micron groups whilst medium length wool also declined albeit with larger variations between its micron groups.
The offering comprised 8 038 bales of which 94,7% was sold.
Major traders were Modiano (2 726), Tianyu SA (1 698), Standard Wool SA (1 683) and Stucken & Co (900). 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 decreased 4,4% to close at R257,58/kg
- 18,5 microns moved 4,4% down to close at R251,84/kg
- 19,0 microns lost 4,4% to close at R242,18/kg
- 19,5 microns weakened by 4,1% to close at R241,25/kg
- 20,0 microns was 4,1% weaker to close at R233,73/kg
- 20,5 microns lost 3,9% to close at R230,26/kg
- 21,0 microns lost 3,9% to close at R229,70/kg
- 21,5 microns decreased by 3,9% to close at R220,44/kg
- 22,0 microns decreased by 4,9% to close at 217,46/kg
- 22,5 microns declined by 4,7% to close at R216,85/kg
The next sale is scheduled for 24 October 2018 where approximately 7 068 bales will be on sale. – Market report