The 2019/20 wool season’s 21st sale took place in Port Elizabeth, with 9 222 bales on offer of which 94,3% was sold. The wool market closed 1,8% (325 points) up at a value of R184,82/kg for clean wool.

Compared to the average rate at the previous sale, the rand was 1,5% weaker against the US dollar and 2,9% weaker against the euro. The market improved by 0,2% in US dollar terms.

Wool market continued its upward trend

Despite no Australian sale taking place this week due to an ongoing software system outage, the wool market continued its upward trend. The auction started at similar levels compared to last week, but improved throughout the sale.

The weakening of the SA currency assisted in achieving better price levels, resulting in a clearance of 94,3%. While a large portion of the offering consisted of crossbred and non-Merino type wools, long, fine Merino fleeces were in good demand and lifted the market.

Modiano SA, Standard Wool SA, Lempriere SA and Stucken & Co were some of the major buyers at the sale.

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 by 0,5% to close at R201,32/kg.
  • 18,5 microns moved up 1,1% to close at R196,61/kg.
  • 19 microns gained 3,8% to close at R194,37/kg.
  • 19,5 microns strengthened by 2,1% to close at R195,33/kg.
  • 20 microns was 2,1% stronger to close at R188,38/kg.
  • 20,5 microns won 1,7% to close at R183,53/kg.
  • 21 microns recovered 1,6% to close at R184,42/kg.
  • 21,5 microns improved by 1,9% to close at R183,53kg.
  • 22 microns rose by 1,1% to close at R182,16/kg.
  • 22,5 microns climbed by 4,1% to close at R177,34/kg.

The next sale is scheduled for 5 March 2020. – Press release, Cape Wools SA