The sale of catalogue 26 continued on 6 May, with an offering of approximately 5 572 bales. The offering consisted mostly of inferior wools and outsorts.
With no full market report available, a summary of the market is provided. Read the report for the first half of the wool auction here.
Wool market summary
The market retracted by a further 4,6%, which was attributable to the quality of the offering. The Australian market was again under pressure this week, and the EMI closed 4,5% down compared to the previous week. The rand traded stronger for the majority of the auction and only weakened later in the day to close nearly unchanged from the previous week.
There was good competition for the very limited merino wools on offer, with active aftersales conducted. This pushed the sales clearance up to 77%.
The major buyers were Standard Wool SA, Lempriere SA, Stucken & Co, and Modiano SA. – Press release, Cape Wools