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Slight improvement in Cape wool prices
18
Apr '13
A weaker rand and limited offering contributed to the market regaining some of last week's losses and the Cape Wools Merino indicator rose 2.2% to close at R103.28/kg (clean).

This is in contrast with the Australian market where indicator has dropped to its lowest level in months, in part as a result of a strong dollar.

At this week's sale the the rand was trading at an average rate of R9,11 against the US dollar compared with R8.89 at last week's sale, down 2.5%. At R11.99, it had devalued by 3% against the euro.

It was a very small offering of 6 381 bales of which 98% was sold. With only five sales remaining, next week will see the smallest offering so far this season.

Major buyers were Standard Wool (2 286 bales), Lempriere SA (1 902 bales) and Modern (1 067 bales). Prices varied with some micron categories gaining up to 4% while other categories were down.

The average clean prices for the different categories good top-making (MF5), long fleeces were as follows: There were no quotes for 18 microns, 18.5 microns rose 5.3% at R112.52/kg, 19 microns were 0.9% cheaper at R110 80/kg, 19.5 microns gained 3.5% to R109.31/kg, 20 microns rose 2.6% to R105.24/kg, 20.5 microns strengthened by 4.5% to R104 84/kg, 21 microns gained 2.9% to R103.02/kg, 21.5 microns were down 3% at R9734/kg, and 22 microns were 1.7% cheaper to close at R101.92/kg. 

Approximately 3 800 bales will be on offer at next week's sale. The final sale of the season has been scheduled for 5 June.

Capewools


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