Wool market increases by 1,1%

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The wool market recently increased with 1,1% in rand terms compared to the previous sale last week. A total of 6 881 bales were offered of which 28% was wool certified by the Responsible Wool Standard (RWS). The wool on offer had an improved overall sales clearance of 93,27%.

The South African rand gave an inconsistent performance, weakening later during the day to close 0,58% down against the United States (US) dollar and resulting in an increase of 0,53% in US dollar terms. The Australian market improved by 3,7% this week.

Better market sentiment and good participation from all buying houses led to the wool market’s improved performance. However, some broader micron categories came under pressure resulting in sustainable fine Merino fleece wool outperforming the market.

The major buyers on the sale were Lempriere SA, Tianyu SA, Modiano SA and Standard Wool 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 2,2% to close at R154,01/kg.
  • 18,5 microns moved 2,8% up to close at R140,88/kg.
  • 19 microns gained 0,8% to close at R130,73/kg.
  • 19,5 microns strengthened by 0,4% to close at R122,73/kg.
  • 20 microns was 1,4% stronger to close at R122,81/kg.
  • 20,5 microns won 2,9% to close at R121,25/kg.
  • 21 microns recovered 0,6% to close at R118,82/kg.
  • 21,5 microns improved by 1,1% to close at R119,84kg.
  • 22 microns rose 0,4% to close at R112,82/kg.
  • 22,5 microns declined by 1,2% to close at R114,12/kg.

The next auction is scheduled for 16 September 2020 where approximately 7 314 bales will be on sale.Cape Wools SA