The final sale before the Christmas recess brought early Christmas cheer to producers when the market recouped some of its recent losses and Cape Wools Merino indicator gained 3.7% to close at R63.07/kg (clean).
This increase is attributed largely to improved demand at early processing level, which was also evident in the higher sales percentage when 94% of the 11 383 bales offered was sold, compared with only 88% sold last week.
The rand, at R6.90, was 1.7% up against the US dollar. It also app reciated by a marginal 0.4% against the Euro to R9.13.
Major buyers were Standard Wool SA (4 370 bales), Modiano SA (3 38 3 bales), and Stucken (1 516 bales).
Medium wools (21 to 22 microns) posted the largest increases of between 4% and almost 7%.
Average prices for good top -making (MF5), sound, long fleeces (less than 1% seed content) were as follows: 19 microns dropped 4.6% to R84.49/kg; 19.5 microns gained 1.9% to close at R72.89/kg; 20 microns were 4.6% dearer at R66.60/kg; 20.5 microns rose 4.1% to R64.36/kg; 21 microns strengthened by 4.4% to R63.86/ kg; 21.5 microns were up 6.8% at R63.05/kg and 22 microns were 5.9% dearer at R61.45/kg.
The first sale after the Christmas recess has been scheduled for 1 2 January 2011.