South Africa : Marginal drop in wool prices before Easter

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Marginal drop in wool prices before Easter

14
Mar '08

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.

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