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Wool market remains strong
31
Jan '08
The market held on to its gains of last week with the prices of most types finishing relatively unchanged. Cape Wool's Merino indicator closed the day a marginal 0,4% down at R64,36/kg (clean).

The market remains strong, with the weaker rand providing support at this week's sale to maintain a level of above R64/kg (clean). The rand was 1,2% weaker against the US dollar at R7,17 and down 2,5% against the euro at R10,61.

The prices of 19-micron long fleece wool were unchanged, while 20 and 21 microns were slightly lower.

This week saw 9 258 bales being offered of which 96% changed hands. Major buyers were Chargeurs Wool (1 635 bales); Standard Wool SA (1 575 bales); Stucken (1 176 bales), Segard Masurel (1 173 bales), and Modiano (960 bales).

Average price movements for AWEX-type fleeces, MF4 and MF5 of 70 and 80 mm were as follows: 19 microns was unchanged at R84,10 /kg; 20 microns were down 0,8% at R72,93/kg; 21 microns were also 0,8% cheaper at R67,10 /kg; 22 microns dropped 2,9% at R62,35/kg, 23 microns were a marginal 0,4% dearer at R61,55/kg, but there no quotes for 24 microns and 25 microns.

Approximately 7 000 bales will be offered at next week's sale.

Cape Wools SA


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