The wool market started off higher at this weeks’ auction and the Cape Wools Merino Indicator increased by 4,2% and by 863 points to close at a value of R216,48 for clean wool. The Australian EMI gained 3,6% this week. The Cape Wools All Wool Indicator gained 3,9%. The opening sale of 2019 saw this week’s market appreciate by 4.2% on the back of substantial increases in Australia.
There was extremely good competition on merino wools, especially well grown wools with good length.
Prices of lower quality wools and lambs’ wools favoured sellers. It is clear that there will be a shortage of good wools from Australia and South Africa due to the continuing droughts in both countries, and the change in shearing patterns leading to more short wools being offered on the market.
The broader end, 19.5 and coarser, increased more than the finer end due the larger offerings of finer wools in Australia and with the clip in both countries having more fine wools due to the drought. This week saw the Rand at R13,95 to the US Dollar and R15,98 to the Euro.
The average clean prices for the selection within the different micron categories for good top-making (MF5), long fleeces were as follows:
- 18,0 microns decreased 2,3% to close at R240,33/kg;
- 18,5 microns moved 1,8% up to close at R239,10/kg;
- 19 microns gained 3,6% to close at R230,98/kg;
- 19,5 microns strengthened by 3,2% to close at R230,07/kg;
- 20 microns was 3,2% stronger to close at R227,58/kg;
- 20,5 microns won 3,3% to close at R226,11/kg;
- 21,0 microns recovered 3,3% to close at R224,53/kg;
- 21,5 microns improved by 4,4% to close at R217,05/kg;
- 22 microns rose 4,3% to close at 213,83/kg and
- 22,5 microns climbed by 5,0% to close at R214,83/kg.
The next sale is scheduled for 16 January 2019 where approximately ± 13 567 bales will be on sale. – Market report