The wool market continued its upward trend this week and traded 1% higher from the previous sale to close at R167,44/kg.
Some 10 002 bales were offered, with non-Merino wools once again making up more than 50% of the offering with an overall sales clearance of 94,6%.
Merino fleece wools attracted good competition and nearly all wool in this category was sold, with wool certified to be sustainable, which comprised 26,5% of the Merino wool on offer, also outperforming the market. The medium-micron, long Merino fleece wool performed the best, with the broad microns experiencing softer demand.
The good performance on this week’s sale was achieved despite the stronger rand of 1,4% against the United States (US) dollar, resulting in a 2,4% increase in the market in US dollar terms.
The Australian market traded slightly lower this week at 0,6% (Australian dollar) from the last sale on 18 February, but achieved a low sales clearance as some farmers opted not to sell at the current market level.
Average price category in the wool market
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 1,2% to close at R213,10/kg.
- 18,5 microns moved up by 1,4% to close at R203,43/kg.
- 19 microns gained 2,2% to close at R192,78/kg.
- 19,5 microns strengthened by 2,8% to close at R182,79/kg.
- 20 microns was 3,4% stronger to close at R169,64/kg.
- 20,5 microns gained 2,6% to close at R156/kg.
- 21 microns recovered 1,1% to close at R155,66/kg.
- 21,5 microns improved by 1,9% to close at R152,76kg.
- 22 microns rose by 1,5% to close at R140,75/kg.
- 22,5 microns declined by 1,8% to close at R143,46/kg.
The next auction is scheduled for 3 March 2021, when approximately 10 812 bales will be on sale. – Press release, Cape Wools