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Cape Wools Merino indicator up by 3.2%
17
Jan '13
Strong demand and a weaker rand boosted wool prices at this week’s sale and the Cape Wools Merino indicator gained 3.2% on last week to close at an all-time high of R112.49/kg (clean).

This is almost 29% higher than at the opening sale and up 9.5% on the same sale the previous season.

The rand remained under pressure following continued labor unrest and at R8, 82, had lost 3. 4% of its value against the US dollar. At R11.71, it also was 4.9% weaker against the Euro. There was excellent competition from all sectors of the trade for the 15,380 bales on offer of which 98% was sold.

Prices rose across the board but fine long fleeces posted the biggest gains after being under pressure at last week’s sale with some micron categories posted gains of up to 5%.Major buyers were Standard Wool SA (4093 bales), Modiano SA (3722 bales), Lempriere SA (3632 bales), Stucken & Co (1976 bales), and Segard Masurel SA (1012 bales).

The average clean prices for the different categories good top-making (MF5), long fleeces were as follows: 18 microns gained 5.6% to R125.37/kg, 18.5 microns were up 3% at R122.75/kg, 19 microns were 2.8% dearer to close at R121.78/kg, 19.5 microns rose 1.7% to R117.47/kg, 20 microns were up 2.7% at R112.96/kg, 20.5 microns softened by 3.7% to R111.65/kg, 21 microns dropped 4.6% at R111.50/kg, 21.5 microns rose by 2.1% to close at R110.31/kg, and 22 microns were 1.5% dearer at R109.01/kg. 

Approximately 13 000 bales will come under the hammer at next week’s sale.

CapeWools

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