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African wool market holds firm

09
Feb '12
Wool prices were firmer despite a strong currency and the Cape Wools Merino indicator closed 0.5% dearer at R103,54/kg (clean).

Demand was keen with the better styles and qualities attracting good prices.

The rand, at R7,49, was considerably stronger against the US dollar than the average rate of the previous week, while it had gained 1.8% against the euro, trading at R9,95.

A total of 9 450 bales was offered of which 98% was sold. Major buyers were Modiano SA (2 473 bales), Standard Wool SA (1 940 bales), Lempriere SA (1 762 bales), Stucken & Co (1 523 bales) and Segard Masurel (1236 bales).

The average clean price for the different categories good top-making (MF5), long fleeces were as follows: 19 microns were unchanged at R117,77/kg, 19,5 microns were 1.4% dearer at R115,29/kg, 20 microns were unchanged at R111,21/kg, 20,5 microns were 1% cheaper at R105,83/kg; 21 microns shed 0.9% to close at R105,22/kg, and 21,5 microns were unchanged at R103,59/kg.

No sale has been scheduled for next week. Sales will resume on 22 February.

Cape Wools


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