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African wool prices slightly dearer

23
Feb '12
Prices improved slightly at this week's sale on the back of a weaker rand and keen interest from all sectors of the trade. The Cape Wools' Merino indicator gained 0.8% compared with the previous sale a fortnight ago to close at R104,37/kg (clean).

This means the indicator remains firmly above the key R100/kg level and currently is only slightly lower than the seasonal high of R105,15/kg fetched at the first sale in January. This is in contrast with the Australian market where prices declined.

The rand, at R7,69, was 2.5% weaker against the US dollar than the average rate two weeks ago, which supported the market. It had softened by 2.2% against the euro, trading at R10,16.

A total of 10 821 bales was offered of which 95% was sold. Major buyers were Standard Wool SA (2 956 bales), Lempriere SA (2 199 bales), Modiano SA (2 145 bales) and Stucken & Co (1 841 bales).

The finer fleece wools posted lower prices, but quality medium fleeces gained up to 2.5%.

The average clean price for the different categories good top-making (MF5), long fleeces were as follows: 19 microns were down a negligible 0.4% at R117,34/kg, 19,5 microns were 2% cheaper at R113,01/kg, 20 microns softened by 1.6% to R109,42/kg, 20,5 microns were 1% dearer at R107,23/kg; 21 microns gained 1.3% to close at R106,62/kg, and 21,5 microns were up 2.5% at R106,15/kg.

Cape Wools


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