CAPE WOOLS MARKET REPORT - 14 February 2024

The 21st sale of the 2023/24 wool selling season took place today, with an offering of 7 077 bales, after 4 718 bales were withdrawn prior to the sale.

The majority of the offering consisted of fine micron wools, with 53,8% of the merino wools on offer certified as sustainable.

Taking into account the current difficult trading environment, the market held up well, supported by a weaker SA currency. A very good overall sales clearance of 95,1 % was achieved.

The non-certified indicator increased by 1,1% to close on R150,59 p/kg and the certified indicator gained 1,3% to close on R170,76 p/kg.

The Australian market continued to weaken this week and closed down 0,6%(AU$) from the previous sale, held on Wednesday 7 February.

The major buyers on this week's sale were Standard Wool SA (1 570), G Modiano SA (1 527), BKB Pinnacle Fibres (1 464) and Tianyu SA (1 298).

The next sale will take place on 21 February 2024 where approximately 9 107 bales will be on offer.