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Growers go gliding as wool hits a new record

30
May '08
South African sheep farmers came in for a surprise as wool prices reached a record high of R20 per kilogram at a special auction for fine wools held in Feathermarket Hall in Port Elizabeth.

The auction was held during the National Wool Growers' Association's annual congress. Experts observing the market closely have opined that South Africa is presently leading in the wool wave especially with regard to quality.

Evening auction of 10 select clips of fine wool saw prices rising from R88 per kilogram and the new record was bliss for enthusiastic growers who will now get better returns for their fleeces.

With market showing an uptrend, demands are also expected to remain steady which would otherwise offset the hike in prices and eventually bring down the same.


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