Cape wools market under pressure this week

This is 9,3% higher compared to the opening sale of this season and up 8,2% compared to the corresponding sale of the previous season.

The market appeared to be without direction while resistance to the high price levels may also have contributed to the lower prices. The sale resulted in a 94% clearance of the 11 243 bales on offer.

The rand on the day traded 0,2% stronger at R10,11 against the US dollar, compared with last week’s average rate and dropped 0,2% against the euro at R13,74.

The most active traders were Modiano (2 821), Standard Wool (2 493) and Lempriere (2 469).

The average clean prices for the different categories good top-making (MF5), long fleeces were as follows: 18 microns were down by 1,1% to R122,93/kg, 18,5 microns weakened by 0,9% to R121,61/kg, 19 microns shed 3,5% to R117,66/kg, 19,5 microns dropped 4,8% to close at R113,69/kg, 20.5 microns lost 2,3% at R112,34/kg, 21.5 microns shed 2,5% to R112,22/kg and 22 microns were down 1,1% to close at R112,85/kg.

The next sale is scheduled for 4 December where approximately 15 000 bales will be on offer. A special sale is also scheduled for 11 December.

Cape wools