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Wool prices ease at first sale after easter
05
May '11
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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