The wool market ended higher at this weeks’ auction and the Cape Wools Merino Indicator increased by 1,9% and 418 points to close at a value of R221,78 for clean wool. The Australian EMI gained 0,3% this week.
The Cape Wools All Wool Indicator went up 1,9%. The offering today consisted of a very good selection of well grown, high spec fine wools which attracted good competition.
The overall rand indicator was up by 1,9% however the good, long merino wools were up at around 4% in rand terms and around 1% in US$ terms.
The shorter wools were markedly down due to the lack of competition from China which led to the overall indicator being up by only 1,9%. Sustainable wool attracted extra attention from the buying houses, fetching premium prices over the 4% mentioned above. This week saw the rand at R14,20 to the US dollar and R16,05 to the Euro.
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 increased 1,5% to close at R245,13/kg;
- 18,5 microns moved 1,2% up to close at R243,28/kg;
- 19 microns gained 1,3% to close at R240,60/kg;
- 19,5 microns strengthened by 1,2% to close at R236,26/kg;
- 20 microns was 1,9% stronger closing at R233,69/kg;
- 20,5 microns went up 2,2% to close at R227,38/kg;
- 21 microns recovered 0,9% to close at R223,00/kg;
- 21,5 microns improved by 1,8% to close at R215,99/kg;
- 22 microns rose 0,1% to close at 219,02/kg and
- 22,5 microns declined by 2,4% to close at R214,71/kg.
The next sale is scheduled for 13 March where about 6 243 bales will be on sale. – Market report