Home / Knowledge / News / Textiles / Weak rand pushes wool market to fresh seasonal high
Weak rand pushes wool market to fresh seasonal high
Mar '08
The weaker rand supported the market at this week's sale and Cape Wools' Merino indicator gained 2.6% to close at a fresh seasonal high of R69.95/kg (clean).

This means that the indicator currently is 25% higher than the opening sale and up 34% on the same sale last season. The Australian indicator was 0.3% up on last Wednesday.

The rand has been on a roller coaster ride over the past week and at one stage tested the R8-the-US-dollar level before recouping some of its losses. At today's sale, it was trading at around R7.80, which was down 4.5% on last week. It had also lost ground to the euro, trading down 5,6% at R11,85.

Fine wools (19 microns) benefited the most, gaining around 5%, while the other Merino long wool categories were up between 2% to 3%.

It was a fairly large offering, totaling 11 225 bales of which 97% were sold. Major buyers were Standard Wool SA (3 196 bales); Modiano (2 530 bales); Chargeurs Wool (1 790 bales); and Lempriere (Aust) Ltd (1 067 bales).

Average price movements for AWEX-type fleeces, MF4 and MF5 of 70 and 80 mm were as follows: 19 microns gained 5.1% at R88,07/kg; 20 microns rose 1.6% to R77,35/kg; 21 microns were 3,3% dearer at R71.18/kg; 22 microns were up 2.3% at R69,76/kg; and 23 microns rose 2.6% to R67.14/kg. There were no quotes for 24 and 25 microns in these specific categories.

Approximately 12 000 bales will be offered at next week's sale.

Cape Wools SA

Must ReadView All

Courtesy: Polartec

Textiles | On 28th Oct 2016

Polartec innovates most breathable waterproof fabric

Polartec, the premium provider of innovative textile solutions, has...

Marzoli FT6D roving frames in Sintex’s Unit 2. Coutresy: Marzoli

Textiles | On 28th Oct 2016

Marzoli roving frames erected at Sintex textile division

A total of 48 Marzoli roving frames were erected in units I, II and...

Textiles | On 27th Oct 2016

Teijin Frontier develops Solotex RC lightweight fibre

Teijin Frontier Co. Ltd, fibre products converting company and part...

Interviews View All

Mukesh Agarwal & Rajesh Agarwal
Madhuram Fincap Pvt Ltd

Increasing prices and lack of demand main issues facing industry

Karel Williams
Dow Microbial Control

'Silvadur is most rapidly adopted in areas where hygiene-conscious and...

Veronique Lee

‘Sustainable fashion is trending upwards, slowly but surely, as people...

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

Pranav Mishra

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

Sonam & Paras Modi

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


Letter To Editor

(Max. 8000 char.)

Search Companies

October 2016

October 2016

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.


Browse Our Archives


Advanced Search