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Wool season closes on a soild note
14
Jun '08
The final wool sale of the season saw the Cape Wools' Merino indicator closing virtually unchanged at R61,42/kg (clean). This is almost 10% up on the opening sale and 4,7% higher than at the same sale last season. The average indicator for the season is up 28% compared with last season's average.

Prices were mixed with finer qualities (21 microns and finer of 70 mm length cheaper, while the stronger qualities of similar length gaining marginally. Short wools attracted limited interest with prices generally finishing softer.

The rand provided some support to the market after falling to a two-month low against as the US dollar, trading at R7,92 against the dollar, which was 2,8% weaker than at the previous sale a fortnight ago. At R12,27, the rand was 1,3% weaker against the euro.

The offering was fairly large (13 593 bales) and 98% was sold. Major buyers were Standard Wool SA (4 074 bales); Modiano (3 819 bales); Stucken (1 870 bales); Beier Finances (981 bales), and Chargeurs Wool (948 bales).

Average price movements for AWEX-type fleeces, MF4 and MF5 of 70 and 80 mm were as follows: 20 microns were down a marginal 0,3% at R67,95 /kg; 21 microns were up 0,3% at R63,46/kg; 22 microns rose 1,4% at R60,80/kg and 23 microns posted a solid gain of 3,4% to close at R59,64/kg. There were no quotes for 19, 24 and 25 microns due to insufficient quantities in these categories.

The first sale of the 2008/09 season will take place on 20 August.

capewools


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