The wool market continued its upward trend on the 7th sale of the 2020/21 wool season with strong performance driven by better market sentiment and a weaker rand.
After 1 264 bales were withdrawn prior to the sale, 7 713 bales came under the hammer of which 92% was sold.
The market gained 6,2% from the previous sale with the rand trading 3,3% weaker against the United States (US) dollar, resulting in a 2,7% increase in US dollar terms.
Fine Merino wool achieve excellent prices
The Australian wool market increased by 10,3% last week before shedding some of the gains this week with a 3,9% drop in the market.
Good-quality fine Merino wool achieved excellent prices, with wool certified under the responsible wool standard (RWS) attracting very good competition throughout the auction and fetching good premiums.
The major buyers on the sale were Lempriere SA, Standard Wool SA, Stucken & Co and Modiano SA.
Average price per micron 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 7,1% to close at R167,50/kg.
- 18,5 microns moved 7,2% up to close at R152,47/kg.
- 19 microns gained 6,9% to close at R143,50/kg.
- 19,5 microns strengthened by 3,6% to close at R133,24/kg.
- 20 microns was 5,4% stronger to close at R127,08/kg.
- 20,5 microns won 6,3% to close at R123,48/kg.
- 21 microns recovered 5,1% to close at R121,10/kg.
- 21,5 microns improved by 3,6% to close at R119,94kg.
- 22 microns rose 1,7% to close at R120,82/kg.
- 22,5 microns climbed by 7,3% to close at R123,20/kg.
The next auction is scheduled for 7 October 2020 where approximately 6 114 bales will be on sale. – Cape Wools SA