Marginal drop in wool prices before Easter

14 Mar '08

1 min read

The last sale before the Easter recess saw the market remaining virtually unchanged with Cape Wools' Merino indicator closing the day down a mere 0.6% at R69.52/kg (clean).

The rand continued to be volatile and was 0.5% stronger against the dollar compared with last week's sale, but 1% weaker against the euro at R11.97.

Most long wool categories were slightly cheaper, the worst affected being 20 microns, which dropped by around 2%.

The offering totaled 10 430 bales of which 96% were sold. Major buyers were Standard Wool SA (2 336 bales); Modiano (2 277 bales); Chargeurs Wool (1 456 bales); and Stucken (1 442 bales).

Average price movements for AWEX-type fleeces, MF4 and MF5 of 70 and 80 mm were as follows: 19 microns dropped 1.2% to R86.98/kg; 20 microns were down 2.3% to R75.53/kg; 21 microns were 0.6% cheaper at R70.85/kg; 22 microns were down 0.8% at R69.22/kg; and 23 microns weakened by 09% to R67.73/kg. There were no quotes for 24 and 25 microns in these specific categories.

Sales will resume on 2 April when approximately 15 000 bales will be on offer.

Capewools

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