The 20th sale of the 2019/20 wool season took place in Port Elizabeth, with 10 219 bales on offer of which 94,7% was sold. The wool market closed 2% (351 points) up at a value of R181,57/kg for clean wool, with the Cape Wools All Wool Indicator closing 1,9% higher. The Australian EMI moved up 0,8% this week.
Compared with the average rate at the previous sale, the rand was 1,2% weaker against the US dollar and 0,4% weaker against the euro. The market improved by 0,7% in US dollar terms.
A positive upward trend for all micron categories
The wool market began on a positive note on the first day, with the market strengthening and competition improving throughout the sale.
The good quality offering of long, fine merino fleeces attracted even better competition, with a sales clearance of 94,7%. All micron categories showed a positive upward trend.
The Australian market was slightly up this week, with South Africa’s weaker currency and good quality wool resulting in very positive prices for the South African market.
Modiano SA, Standard Wool SA, Lempriere SA and Tianya SA 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 2,5% to close at R200,26/kg.
- 18,5 microns moved up 1,9% to close at R194,49/kg.
- 19 microns gained 2,6% to close at R187,17/kg.
- 19,5 microns strengthened by 3% to close at R191,36/kg.
- 20 microns was 2,1% stronger to close at R184,56/kg.
- 20,5 microns won 2% to close at R180,54/kg.
- 21 microns recovered 3,4% to close at R181,54/kg.
- 21,5 microns improved by 0,7% to close at R180,05kg.
- 22 microns rose by 0,8% to close at R180,09/kg.
- 22,5 microns climbed by 2,3% to close at R170,29/kg.
The next sale is scheduled for 27 February 2020. – Press release, Cape Wools SA