The 7th sale of the 2024/25 wool season was held today, with a total of 6,812 bales available for auction.

Once again, the majority of the offering consisted of long-length, fine micron wools, with nearly 60% of the Merino wool certified as sustainable.

Today's market showed positive momentum, largely influenced by the favorable trading conditions seen in the Australian market earlier this week. Additionally, the weaker South African rand against the US dollar further supported strong trading.

The all-Merino indicator rose by 1.6%, closing at R162.11 per kilogram, while the Certified indicator increased by 1.6%, closing at R164.37 per kilogram. The highest price for the day was R266.90 per kilogram (clean), paid for a single bale of 15.9-micron Merino weaner fleece wool.

The Australian market continued its upward trajectory, gaining 2.8% (AU$) since their last sale on 2 October.

Today’s top buyers included G Modiano SA (1,466 bales), Standard Wool SA (1,421 bales), BKB Pinnacle Fibres (1,255 bales), and Tianyu SA (992 bales).

The next sale is scheduled for 16 October 2024, with approximately 7,113 bales set to be offered.