Prices declined at this week’s sale on the back of ongoing concerns about the global economy and the slow-down in economic activity in China. The Cape Wools Merino indicator shed 2.4% compared with last week to close the day at R86.26/kg (clean). The Chinese textile industry currently is being negatively affected by stagnant demand from spinners and some topmakers are reported to be operating at about 50% of capacity.
Prices declined at this week's sale on the back of ongoing concerns about the global economy and the slow-down in economic activity in China.#
The local market also followed the trend in Australia where the market fell for a fifth week in a row.
Prices declined at this week's sale on the back of ongoing concerns about the global economy and the slow-down in economic activity in China.#
The rand, at R8.41 against the US dollar, was fairly unchanged compared with the average rate last week and was down a marginal 0.5%, while it was 0.3% weaker against the euro at R10.53.
Prices declined at this week's sale on the back of ongoing concerns about the global economy and the slow-down in economic activity in China.#
It was a fairly small sale with 5 794 bales on offer of which 96% was sold. Major buyers were Standard Wool SA (2 357 bales), Modiano SA (983 bales), Lempriere SA (869 bales) and Stucken & Co (779 bales).
Prices declined at this week's sale on the back of ongoing concerns about the global economy and the slow-down in economic activity in China.#
Prices varied across the micron categories with 18 microns slightly dearer. The broader types declined the most.
Prices declined at this week's sale on the back of ongoing concerns about the global economy and the slow-down in economic activity in China.#
The average clean prices for the different categories good top-making (MF5), long fleeces were as follows: 18 microns were up 0.6% at R99,96/kg, 18.5 microns shed 0.7% to R94.73/kg, 19 microns dropped 0.7% to R93,66/kg, 19.5 microns declined by 2.4% to R91.22/kg, 20 microns were 2.5% cheaper to close at R90.39/kg, 20.5 microns were down 2.7% at R90,00/kg, 21 microns fell by 2.6% to R89,87/kg, 21.5 microns were 2.4% cheaper at R89.61/kg and 22 microns shed 3% to close at R89,10/kg.
Prices declined at this week's sale on the back of ongoing concerns about the global economy and the slow-down in economic activity in China.#
Approximately 5 000 bales will be offered at next week’s sale.
Cape Wools