The 23rd sale of the 2019/20 wool season took place on 12 March. Of the 10 213 bales on offer, 89% was sold. The wool market closed 0,7% (120 points) down at a value of R177,89/kg for clean wool. The Australian EMI moved down 2,6%.
Compared to the previous sale, the rand was 6,9% weaker against the US dollar and 7,8% weaker against the euro. The market weakened by 7,1% in US dollar terms.
Passed lots influence results
The wool market held up well amid continuing global market uncertainty.
While the Australian market experienced pressure on Wednesday, it recovered somewhat on Thursday, closing 2,6% down. Although the weaker currency supported the market, the further weakening late on Thursday was too late for buyers to take full advantage.
Crossbred wools came under pressure, with passed lots resulting in an overall sales clearance of 88,9%. The long, fine Merino fleeces once again attracted good competition and performed better than the market average.
The major buyers at the sale were Lempriere SA, Standard Wool SA, Modiano SA and Tianyu SA.
Average price per category
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 0,3% to close at R191,81/kg.
- 18,5 microns moved up 0,5% to close at R188,45/kg.
- 19 microns gained 0,9% to close at R186,25/kg.
- 19,5 microns strengthened by 0,7% to close at R192,74/kg.
- 20 microns was 0,9% stronger to close at R183,84/kg.
- 20,5 microns won 1,2% to close at R183,62/kg.
- 21 microns lost 0,4% to close at R179,65/kg.
- 21,5 microns tumbled by 1,9% to close at R177,25kg.
- 22 microns fell by 4,1% to close at R172,73/kg.
- 22,5 microns declined by 0,1% to close at R175,01/kg.
The next sale is scheduled for 20 March 2020. – Press release, Cape Wools SA