Wool market: First half of catalogue 26 sold

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Due to the current South African Covid-19 lockdown situation, the first half of catalogue 26, consisting of 6 226 bales was offered on 29 April 2020, with the sale to be continued on 6 May. A full market report is therefore not available, but a summary of the market is provided.

Wool market summary

The market experienced downward pressure, following the trend in the Australian market and a stronger SA currency.

The market started off fairly well, but retreated later in the day, mainly due to much stronger currency levels experienced during trading, with the SA rand closing on average 3,2% stronger against the US$.

The market indicator closed 7,4% down from the previous week, with 91,7% of the bales offered, sold. The Australian EMI was down 3,7% this week.

The major buyers on the sale were: Standard Wool SA (1 764), Lempriere SA (1 612), Modiano SA (816) and Stucken & Co (806). – Press release, Cape Wools