Wool market remains strong

31 Jan '08

2 min read

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

More Capewools News...