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Cape Wools market still strong
Nov '11
The wool market largely maintained its price levels at this week's sale and Cape Wools' Merino indicator closed the day down by a marginal 0.6% at R103,39/kg (clean).

Quality wools were keenly sought after and fetched excellent prices while the average to inferior types were discounted.

The rand, at R7,85, had gained some ground against the US dollar, increasing by 1.2% compared with last week's average rate. It was 1.2% stronger against the euro at almost R10,82.

The offering comprised 9 240 bales of which 95% was sold. Major buyers were Modiano SA (2 834 bales), Standard Wool SA (2 652 bales), Stucken & Co (1 682 bales) and Lempriere SA (1 033 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 decreased by 2.5% to R119,93/kg, 19,5 microns were 1.9% cheaper at R116,10/kg, 20 microns dropped by 1.9% to R112,36/kg, 20,5 microns were down 1.5% at R110,59/kg; 21 microns fell by 1% to close at R107,85/kg, 21,5 microns were 1.3% cheaper at R104,70/kg and 22 microns dropped 1.1% to close at R100,91/kg.

Approximately 10 500 bales will come under the hammer at next week's sale.


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