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Weak Rand pushes SA wool prices
Mar '13
This week’s sale saw prices rising slightly on the back of a weaker rand and the Cape Wools Merino indicator gained 1.3% on last week to close the day at R112.13/kg (clean).

The rand has weakened over the last few days, falling to its lowest level in weeks following unrest in the platinum mining industry. It was trading at an average rate of R9 against the US dollar, which was down 2.3% on last week’s average. At R11.76, it was 1.9% weaker against the euro.

It was a large offering comprising 15 558 bales, which included many re-offerings. A sales percentage of 99% was obtained. Major buyers were Standard Wool (4 031 bales), Modiano (3 685 bales), Lempriere SA (3 110 bales), and Stucken & Co (2 757 bales). Most fleece wools were dearer. The largest increase was for 18 microns fleeces, which gained over 3% on average.

The average clean prices for the different categories good top-making (MF5), long fleeces were as follows: 18 microns were up 3.2% at R123.14/kg, 18.5 microns were unchanged at R121,38/kg, 19 microns were 1% dearer at R119.17/kg, 19.5 microns gained 1.6% to R116.36/kg, 20 microns rose 1.1% to R112.74/kg, 20.5 microns gained 2.1% to R111.49/kg, 21 microns rose 1.8% to R111.37/kg, 21.5 microns were 2% dearer at R111.71/kg, and 22 microns were up 1.8% to close at R111.32/kg. 

Approximately 9 500 bales will be offered next week.


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