Port Elizabeth – The wool market once again delivered good results this week and closed 2,1% up from the previous week on an average of R172,63 p/kg.
A total of 9 640 bales were offered, with certified sustainable wools comprising 13% of the merino wools offered.
The strengthening of the rand during the sale made trading more challenging, but the rand ultimately closed 1,7% weaker against the US, also delivering a positive return of 0,4% in US$ terms.
All micron categories delivered positive results, with the fine micron and sustainable wools attracting strong competition from the buying houses.
The Australian market also closed on a positive note this week and edged up by 0,5% (AU$) from the last sale held on Thursday, 4 March.
The major buyers on today’s sale were: Lempriere SA (2 964), Standard Wool SA (2 416), Modiano SA (1 718) and Tianyu SA (1 041).
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 increased 2,7% to close at R222,99/kg; 18,5 microns moved 2,9% up to close at R212,82/kg; 19 microns gained 2,2% to close at R200,26/kg; 19,5 microns strengthened by 2,5% to close at R188,93/kg; 20 microns was 2,6% stronger to close at R175,25/kg; 20,5 microns won 2,6% to close at R165,64/kg; 21,0 microns recovered 2,1% to close at R159,26/kg; 21,5 microns improved by 3,2% to close at R159,67kg; 22 microns rose 2,2% to close at R146,18/kg and 22,5 microns climbed by 2,4% to close at R148,13/kg.
The next auction is scheduled for 17 March 2021 where approximately ±8 990 bales will be on sale.