The wool market traded stronger this week with a 4,1% increase following the previous sale, to close at R165,76/kg.
The smaller offering of 7 510 bales consisted mainly of non-Merino wools, with the bulk of the offering falling in the medium length, fine micron categories. There was once again a very limited offering of wools certified to be sustainable, and an overall sales clearance of 92,6% was achieved.
The market followed the upward trend of the Australian market this week, with all micron categories ending the day higher. There were better interest and buyer demand for the limited-volume, good-quality, long Merino fleece wools on offer, with the short wools trading softer.
The rand traded variably throughout the sale but closed slightly weaker at 0,2% against the United States (US) dollar, resulting in a return of 3,9% in American dollar terms. The Australian market rose by 3,1% (Australian dollar) from its last sale on 11 February.
Average price category in the wool market
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 3,7% to close at R210,60/kg.
- 18,5 microns moved up with 6,7% to close at R200,59/kg.
- 19 microns gained 5,8% to close at R188,54/kg.
- 19,5 microns strengthened by 6,9% to close at R177,73/kg.
- 20 microns were 5,7% stronger to close at R164/kg.
- 20,5 microns gained 3,4% to close at R152,11/kg.
- 21 microns recovered 4,6% to close at R153,95/kg.
- 21,5 microns improved by 5,1% to close at R149,98kg.
- 22 microns rose by 4,3% to close at R138,71/kg.
- 22,5 microns climbed 6,4% to close at R146,15/kg.
The next auction is scheduled for 24 February 2021, where approximately 7 748 bales will be on sale. – Press release, Cape Wools