The wool market surged upwards by 8,6% to close at R146,32/kg, with very good competition experienced for the good-quality Merino wool on offer, especially for the wool certified as sustainable.
A total of 7 642 bales were offered on the ninth sale of the 2020/21 wool season, after 1 135 bales were withdrawn before the sale. A sales clearance of 93,9% was achieved on the sale. The good-quality long fleece wool also outperformed the market this week and sold at a large premium compared to the shorter-length Merino wool.
The wool market followed the upward trend in the Australian market this week, which improved by 9,3% in Australian dollar terms. The South African rand traded 0,6% stronger against the United States (US) dollar, showing positive returns of 9,2% in US dollar terms.
The major buyers on the sale were Standard Wool SA, Modiano SA, Lempriere SA and Stucken & Co.
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 6% to close at R180,55/kg.
- 18,5 microns moved up 9,6% to close at R170,03/kg.
- 19 microns gained 9,6% to close at R160,13/kg.
- 19,5 microns strengthened by 7,8% to close at R148,85/kg.
- 20 microns was 8,9% stronger to close at R143,34/kg.
- 20,5 microns won 9,4% to close at R137,41/kg.
- 21 microns recovered 9,4% to close at R136,49/kg.
- 21,5 microns improved by 9,5% to close at R134,06kg.
- 22 microns rose 9,7% to close at R135,11/kg.
- 22,5 microns climbed by 9,4% to close at R139,58/kg.
The next auction is scheduled for 21 October 2020 where approximately 6 268 bales will be on sale. – Cape Wools SA