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Cape wools market drops slightly this week
31
Oct '13
The wool market dropped slightly at this week’s sale and the Cape Wools Merino indicator closed 2.4% lower at R110,51/kg (clean) compared to last week’s. This is 8.4% higher compared to this season’s opening sale.

There was keen competition on the auction floor between grease-wool exporters and processors and 99% of the offering of 9 548 bales was sold. According to traders, resistance from China towards the current price levels of raw wool continued to affect this week’s wool sale.

The rand had little influence on the market and at R9,84 it was 0.8% weaker against the dollar compared with last week’s average rate. At R13,53 it had lost 0.7% on average value against the euro.

Wool prices dropped across the board with the stronger types posting the greatest decline.

Most active traders were Modiano (2 712), Standard Wool (2 327), Lempriere (2 151) and Stucken & Co (1 282).

The average clean prices for the different categories good top-making (MF5), long fleeces were as follows: 18 microns were down 2.3% at R118,72/kg, 18,5 microns weakened by 2.6% to R117,06/kg, 19 microns dropped 1% to R116,57/kg, 19,5 microns shed 1.8% to close at R114,52/kg , 20 microns dropped 1.9% to close at R112,50/kg, 20,5 microns were down 2.7% at R111,27/kg, 21,5 microns were 2.9% cheaper at R110,37/kg and 22 microns were down 1.8% to close at R110,21/kg.

The next sale is scheduled for 6 November where approximately 12 500 bales will be on offer.

Cape Wools

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