The 33rd sale of the 2018/19 wool season in May, had 8 986 bales on offer of which 94,4% was sold. The wool market closed 1,8% up at a value of R205,98c/kg for clean wool, with the Cape Wools All Wool Indicator closing 1,8% higher. The Australian EMI moved 3,3% down this week.
This week saw the rand at 3,9% weaker against the US dollar and 3,5% weaker against the euro, compared with the average rate at the previous sale. The market weakened by 2% in US dollar terms. The market gained 1,8% from the previous sale, but could have reached higher levels, was it not for the fact that greasy wool is still not being certified for export.
Long wools attract competition
The market followed the recovery in the Australian market this week, supported by a weaker currency of nearly 4% against the USD, resulting in a sales clearance of 94,4%. A fairly small percentage of long wools were on offer, attracting good competition from the buying houses. The medium and short wools were once again discounted as they are mainly destined for China.
The major buyers the sale were G Modiano SA, Standard Wool SA, Tianyu SA and Lempriere SA.
Average price per 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 4,1% to close at R232,52/kg.
- 18,5 microns moved 4,6% up to close at R232,32/kg.
- 19 microns gained 3,9% to close at R224,14/kg.
- 19,5 microns strengthened by 2,6% to close at R219,42/kg.
- 20 microns was 1,6% stronger to close at R216,29/kg.
- 20,5 microns won 2,7% to close at R213,68/kg.
- 21 microns recovered 1,1% to close at R216,82/kg.
- 21,5 microns tumbled by 0,3% to close at R209,75/kg.
- 22 microns rose 0,5% to close at 212,21/kg.
- 22,5 microns climbed by 4,8% to close at R216,46/kg.
The next sale is scheduled for 5 June 2019. – Press release