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African wool prices softer as rand strengthens

01
Mar '12
Wool prices were softer at this week's sale following a considerable increase in the value of the rand compared with last week and the Cape Wools Merino indicator closed the day down 3.1% at R101,17/kg (clean).

This is up 23% on the same sale last season and 9% higher than the opening level of the season.

The rand was trading at R7,42 against the US dollar, which was a 3.3% increase on last week's average rate. At R9,99, the rand had also appreciated by 1.6% against the euro.

This week saw a smaller offering of 7 883 bales of which 97% was s old. Major buyers were Standard Wool SA (2 247 bales), Modiano SA (1 721 bales), Stucken & Co (1 485 bales) and L empriere SA (1 364 bales).

Prices were down across the board with the finer micron ranges posting the largest decreases.

The average clean price for the different categories good top -making (MF5), long fleeces were as follows: 19 microns were down a 3.1% at R113,70/kg, 19,5 microns were 4.9% cheaper at R107,42/kg, 20 microns softened by 2.3% to R106,93/kg, 20,5 microns were 2.5% cheaper at R104,60/kg; 21 microns dropped 2.8% to close at R103,61/kg, 21,5microns were down 1.6% at R104,46/kg and 22 microns softened by 3.1% to R102,83/kg.
Approximately 12 500 bales will be on offer at next week's sale.

Cape Wools SA


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