Home / Knowledge / News / Textiles / Strong rand forces wool market down
Strong rand forces wool market down
Sep '10
The wool market declined sharply at this week's sale as a very strong rand exerted downward pressure on prices and Cape Wools Merino indicator shed 4.1% to close at R54,53/kg (clean). The rand this week appreciated to its strongest levels since January

2008 against the US dollar and was trading at R7,03, which was up 2.5% on last week's exchange rate. At R9,14, it was up 0.5% against the euro. The market was put under further pressure by a decline in Australian prices.

The Australian market indicator was down 1.3% compared with last Wednesday's level. The offering comprised 5 218 bales, of which 96% was sold. Major buyers were Modiano SA (2 040 bales); Standard Wool SA (851 bales); Stucken (681 bales), and Lempriere SA (651 bales).

Average prices for good top-making (MF5), sound, long fleeces (less than 1% seed content) were as follows: 19 microns declined by 2.2% to R66,54/kg; 19,5 microns were down 2.2% to R60,86/kg; 20 microns were 5.7% cheaper at R55,87/kg; 20,5 microns declined by 5.3% to R55,62/kg; 21 microns softened by 4.6% to R55,67/kg; 21,5 microns were down 5.1% to R54,96/kg and 22 microns declined by 6% to close at R54,31/kg.

Approximately 7 000 bales will be offered at next week's sale.

Cape Wools Market

Must ReadView All

Textiles | On 24th Oct 2016

Indian govt plans roadshows to promote textile exports

The Indian government has planned to conduct roadshows to boost the...

Textiles | On 24th Oct 2016

TPP may hit roadblock

The 12-member Trans-Pacific Partnership (TPP) that was signed earlier ...

Textiles | On 24th Oct 2016

Baba Ramdev’s Patanjali to enter textile manufacturing

Patanjali Ayurved, an enterprise initiated by yoga guru Baba Ramdev,...

Interviews View All

Anvita Mehra
Confidential Couture

‘It is going to take some time for Indian buyers to get accustomed to...

Dinaz Madhukar
DLF Emporio and DLF Promenade

‘Each event and promotion is planned out keeping in mind the business of...

Ghanshyam Ghoghari
Kimora Fashion

Bridalwear is not about reds and whites anymore

Kerem Durdag
Biovation II LLC

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

Eric Scholler

The Indian market has huge potential in technical textiles, and by far,...

Kevin Nelson

Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

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