Pre-Christmas wool sales remain slow

14 Dec '07

2 min read

Cape Wools affirmed on December 12 that the sale of wool before Christmas did not match the expected outcome.

Ona Viljoen, spokesperson of Cape Wool told Fibre2fashion that the last sale before the Christmas break closed uneventful with Cape Wools' Merino indicator softening by a marginal 0.4 percent at R57, 64/kilogram (clean). The indicator nevertheless is 3 percent higher than the opening sale and up 26.8 percent on the same sale last season.

Mr Viljoen further stated, “One of the factors that contributed to the slightly weaker market was the rand, which was 0.8 percent stronger against the US dollar and up 1.1 percent against the euro. According to local exporters, orders from Europe, a major market for South African wool, are also slow at present.”

Giving detailed statistics about the over all sale, Mr Viljoen believed that it was a fairly big sale with 10,192 bales on offer, of which 96 percent was sold. Major buyers included Modiano (2 975 bales), Chargeurs Wool (1,806 bales); Standard Wool SA (1,238 bales); Stucken (1 060 bales); and Segard Masurel (955 bales). Prices across different length and micron categories were very mixed, with MF4 and MF5 types of 70 mm (19,5, 20 and 20.5 microns) between 1 to 2.5 percent dearer, while the medium qualities (21 to 22.5 microns) were up to 3 percent cheaper.

Sales are expected to resume from January 16, 2008 when approximately 10,500 bales of wool will be made available for purchase.

Capewools

More Capewools News...