Home / Knowledge / News / Textiles / Wool market shrugs off strong rand
Wool market shrugs off strong rand
Oct '10
The wool market shrugged off the strong currency for a second consecutive week and Cape Wools' Merino indicator gained 1.2% to close at R58,00/kg (clean). The Australian market also strengthened despite the strong US exchange rate. The rand hit a new peak against the US dollar at R6,84, which was an appreciation of 1.1% compared with last week rates. It was 0,8 weaker against the euro at R9,47.

There was strong competition for the 8 005 bales on offer and 97% was sold. Buyers for Europe dominated. Major buyers were Modiano SA (3 079 bales), Standard Wool SA (1 783 bales) and Stucken (1 207 bales). Prices were mixed with the finer end of the market slightly cheaper, while the broader wools gained substantially.

Average prices for good top-making (MF5), sound, long fleeces (less than 1% seed content) were as follows: 19 microns were down a marginal 0.7% at R70,93/kg; 19,5 microns shed 1.2% to close at R65,02/kg; 20 microns were 1.2% dearer at R61,17/kg; 20,5 microns gained 2.7% at R60,64/kg; 21 microns strengthened by 2.8% to R59,72/kg; 21,5 microns were up 2.4% at R59,11/kg and 22 microns were 3.3% dearer at R58,50/kg.

Approximately 6 500 bales will be offered at next week's sale.

Cape Wools

Must ReadView All

Textiles | On 21st Feb 2017

Net profit at Indorama Ventures zooms 145% in 2016

Net profit at Thailand headquartered and Aloke Lohia led Indorama...

Information Technology | On 21st Feb 2017

ThreadSol launches IntelloBuy & IntelloCut in Vietnam

ThreadSol, the pioneer of enterprise material management for sewn...

Textiles | On 21st Feb 2017

GST to reduce documentation for logistics firms: CBRE

The Goods and Services Tax (GST) is likely to result in a reduction...

Interviews View All

Riddhika Shah
SS Homme

'Worsted wool is the ideal fabric for menswear'

Awen Delaval

'Natural fibres are appreciated for traditional authenticity'

Anavila Misra
Anavila Collection

Fashion shows are also encouraging and highlighting sustainable fashion

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Kevin Nelson

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

Suresh Patel
Sidwin Fabric

Sidwin Fabric is a manufacturer and exporter of polypropylene textiles and ...

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer Prathyusha Garimella is known for blending...

Pranav Mishra

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

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

February 2017

February 2017

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


Browse Our Archives


Subscribe today and get the latest News update in your mail box.
Advanced Search