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Wool prices firmer at second sale
01
Sep '11
The wool market put up a solid performance at the second sale of the season when the Cape Wools Merino indicator gained 2.5% on the previous sale a fortnight ago to close at R94,32/kg (clean).

The local market took some direction from the Australian market where prices were firm and the indicator closed marginally higher compared with the previous sale. The fairly small offering of 6 128 bales also helped to support prices.

The rand, at R6,98 was 1.1% stronger against the US dollar compared with the average rate at the previous sale. It was up 0.9% against the euro at R10,08.

A sales percentage of 94% was achieved. Major buyers were Standard Wool SA (2 393 bales), Stucken & Co (1 225 bales), Modiano SA (1 145 bales), and Lempriere SA (659 bales).

The average clean price for the different categories good top-making (MF5), sound, long fleeces (less than 1% seed content) were as follows: 19 microns gained 1.9% tot R114,62/kg, 19,5 microns were 3% dearer at R109,13/kg, 20 microns were up 2.4% at R102,16/kg, 20,5 microns rose 2% to R99,57/kg; 21 microns gained 4.2% to close at R98,68/kg, 21,5 microns were 2% dearer at R95,23/kg and 22 microns rose 1.6% to close at R93,99/kg.

Approximately 7 500 bales will come under the hammer at next week's sale.

Cape Wools


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