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Cape Wools' market indicator up

Mar '07
A weak currency and keen demand pushed wool prices to their highest levels in four years and Cape Wools' market indicator rose 4.8% to close at R41.90/kg (clean). This is up 39% on the opening level.

The rand, with other emerging currencies, was on the back foot against major currencies and was down 1.4% against the US dollar at R7.47 and 1.9% weaker against the euro at R9,85. Local prices also followed the trend in Australia where the indicator was up 2.2% at sale.

Shorter, finer, quality Merino wools of 40 mm to 50 mm were well supported and fetched excellent prices. Stylish, high-yielding long wools also performed well with the biggest increases in the 22 and 23 micron categories, which rose between 7% and 8%.

The total offering comprised 10 468 bales of which 99% changed hands. Major buyers were Modiano (3 034 bales), SA Wool Exporters (2 355 bales), Stucken (1 384 bales), Chargeurs Wool (1 102 bales) and Segard Masurel (1 035 bales).

Average price movements for AWEX-type fleeces MF3, MF4 and MF5 of 70 and 80 mm were as follows: 19 microns gained 5.7% at R67,86/kg; 20 microns were up 3.8% at R61,44/kg; 21 microns rose 5.1% at R58,75/kg; 22 microns were 7.7% dearer at R58,12/kg, 23 microns rose 6.8% at R55,85/kg but there were no quotes for 24 and 25 microns.

Cape Wools SA

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