WOOL MARKET UP AT SECOND SALEPORT ELIZABETH: The wool market performed well at this week's sale, which was the second sale of the new season, and Cape Wools' Merino indicator gained 0,9% compared with the previous sale to close at R58,26/kg (clean).
This is ascribed mainly to strong interest from Europe, the small offering and a weaker rand. The rand was trading at R7,31 against the US dollar, which was a depreciation of 1,4% compared with last week's sale. It was down 0,5% against the euro at R9,33. The price rise on the local market is in line with Australia, where
the market was also firmer after a fairly lacklustre performance over the past few weeks. There was keen demand for quality wools across the board. The offering was relatively small with only 6 613 bales on offer, of which 98% was sold. Major buyers were Modiano SA (2 276 bales); Standard Wool SA (1 748 bales); Lempriere SA (977 bales), and Segard Masurel (724 bales). Average prices for good top-making (MF5), sound, long fleeces (less than 1% seed content) were as follows: 19 microns gained 0,4% to R68,21/kg; 19,5 microns were up 0,3% at R63,60/kg; 20 microns were 1,3% dearer at R61,00/kg; 20,5 microns gained 2,7% to R60,76/kg; 21 microns were 1,7% dearer at R60,02/kg; 21,5 microns were down 0,7% to R58,87/kg and 22 microns were unchanged at R58,66/kg. Approximately 7 000 bales will come under the hammer at next week's sale. |
