Wool prices ease at first sale after easter

05 May '11

1 min read

The first sale after the Easter recess saw wool prices softening and Cape Wools' Merino indicator closed the day at R83.71/kg (clean), which is down 1.9% on the previous sale three weeks ago.

This is in line with the Australian market, which also trended downwards. The stronger rand, which had appreciated by 1.5% since the previous sale, also exerted downward pressure on the market.

The rand, at R6.58, had appreciated by 1.5% against the US dollar compared with the previous sale. At R9.77, the rand was down 0.8% against the Euro.

A total of 10 812 bales were on offer of which 93% was sold.

Major buyers were Standard Wool SA (3 615 bales), Stucken & Co (2 485 bales) and Modiano SA (2 402 bales).

Average prices for good top-making (MF5), sound, long fleeces (less than 1% seed content) fluctuated across the micron spectrum on offer: 19 microns dropped by 1.4% to R113.27/kg; 19.5 microns were 2.8% cheaper at R99.50/kg; 20 microns gained 0.8% to close at R90.93/kg; 20.5 microns were up 0.6% at R87.01/kg; 21 microns eased 0.9% to R84.75/kg, and 21.5 microns were down 2.1% to close at R81.93/kg.

Approximately 9 500 bales will be on offer at next week's sale.

Cape Wools SA

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