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Cape Wools market remains strong

27
Jan '12
The market held up well despite a stronger currency and the Cape Wools Merino indicator closed unchanged at R102,47/kg (clean wool).

This was in line with Australia where prices were marginally dearer.

There was keen demand on the auction floor, particularly among grease-wool exporters, which helped to support price levels.

The rand at R7,90, was almost 1% stronger against the US dollar compared with last week's average rate, but was 0.7% weaker against the euro at R10,27.

The prices of most micron category quality fleece wools (MF5) were up by between 0.5% and 2.5%. The exception was 21 microns, which were slightly cheaper.

This week saw a smaller offering than during the past two weeks of 10 186 bales of which 97% was sold. Major buyers were Modiano SA (3 002 bales), Standard Wool SA (2 542 bales), Lempriere SA (2 113 bales) and Stucken & Co (1 306 bales).

The average clean price for the different categories good top-making (MF5), long fleeces were as follows: 19 microns gained 2.6% to R119,97/kg, 19,5 microns were 0.5% dearer at R114,52/kg, 20 microns were up 0.5% to R108,68/kg, 20,5 microns rose 1.1% to R106,91/kg; 21 microns fell by 0.8% to close at R104,33/kg, 21,5 microns were 1% cheaper at R103,34/kg, but 22 microns rose 0,8% to close at R104,70/kg.

Next week will be a much smaller offering with only 5 500 bales up for sale.

Cape Wools


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