Cape Wools Weekly Market Report
Port Elizabeth – The wool market traded stronger this week and closed 4.1% up from the previous sale, to close on R165.76 p/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 certified sustainable wools and an overall sales clearance of 92.6% was achieved.
The market followed the upward trend in the Australian market this week, with all micron categories ending the day higher. There was 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 by 0.2% against the US$, resulting in a return of 3.9% in US$ terms. The Australian market edged up by 3.1% (AU$) from their last sale on Thursday, 11 February.
The major buyers on today’s sale were: Standard Wool SA (2 213), Modiano SA (1 870), Lempriere SA (1 799) and Stucken & Co (515).
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 3,7% to close at R210,60/kg; 18,5 microns moved 6,7% up 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 was 5,7% stronger to close at R164,00/kg; 20,5 microns won 3,4% to close at R152,11/kg; 21,0 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 4,3% to close at R138,71/kg and 22,5 microns climbed by 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.