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Cape Wools Merino indicator drops

19
Jan '12
Wool prices softened slightly at this week's sale after reaching a fresh high last week and the Cape Wools Merino indicator closed the day down 2.4% at R102,65/kg (clean).

This could indicate some resistance from certain customers to the high price levels. In addition, the rand at R7,97, was 1.1% stronger against the US dollar compared with last week's average rate. It was 0.8% weaker against the euro at R10,20.

Prices were lower across the board but the 20-micron category fleece wools were the most affected, dropping by more than 5% on average.

In Australia, the market also came off last week's levels to post lower prices.

A total of 13 968 bales was on offer, of which 92% was sold. Major buyers were Modiano SA (4 548 bales), Standard Wool SA (3 574 bales), Lempriere SA (2 034 bales) and Stucken & Co (1 530 bales).

Wool receipts at broker's stores to date is down 9.3% compared with the corresponding period last season, which may indicate a drop in this season's production.

The average clean price for the different categories good top-making (MF5), long fleeces were as follows: 19 microns shed 3.4% to R116,96/kg, 19,5 microns were 3.1% cheaper at R113,93/kg, 20 microns dropped 5.7% to R108,12/kg, 20,5 microns were down 5.6% to R105,76/kg; 21 microns fell by 3.9% to close at R105,19/kg, 21,5 microns were 4.6% cheaper at R104,34/kg, while 22 microns dropped 3.5% to close at R103,82/kg.

Approximately 10 000 bales will be offered at next week's sale.

Cape Wools


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