MARKET FOLLOWS STRONGER RAND DOWNWARDSPORT ELIZABETH: The strong rand once again weighed the market down and Cape Wools' Merino indicator shed 2,6% to close at R62,43/kg (clean). The rand was trading at R7,37 against the US dollar, which was an appreciation of 2,2% on last week's rate. It was trading at R10,00 against the euro, up 2,5% compared with last week. The offering comprised 9 464 bales of which 98% was sold. Major buyers were Standard Wool SA (3 188 bales); Lempriere SA (1 902 bales); Modiano SA (1 746 bales), and Stucken (1 709 bales). Average prices for good top-making (MF5), sound, long fleeces (less than 1% seed content) were as follows: 19 microns shed 1,8% to close at R69,85/kg; 19,5 microns were 0,9% cheaper at R67,09/kg; 20 microns dropped 1,6% to R64,90/kg; 20,5 microns were down 2,8% at R62,83/kg; 21 microns were 4,4% cheaper at R61,63/kg; 21,5 microns shed 1,1% to close at R62,46/kg, and 22 microns were down 2,2% at R62,39/kg. Approximately 6 500 bales will be on offer at next week's sale. Latest Issues |
