Wool prices slightly softer

Wool prices were slightly softer at this week's sale after the steep increase of the past few weeks, and Cape Wool's Merino indicator was down 0.8% compared to last week to close at R62,56/kg (clean). There was keen demand, however, for the finer types on offer and prices for these also increased, while the medium wools were down on last week. In Australia, the market indicator was up 1.3% compared with last Wednesday. The rand, tracking the euro, was 0.8% weaker against the US dollar compared with last week, trading at R6,96. It was also 0.8% weaker against the euro at R9,61.

The offering comprised 8 538 bales of which 96% was sold. Major buyers were Standard Wool SA (3 038 bales), Modiano SA (1 540 bales), Lempriere (1 509 bales), and Stucken (1 333 bales).

Average prices for good top-making (MF5), sound, long fleeces (less than 1% seed content) were as follows: 19 microns rose 1.5% to R74,73/kg; 19,5 microns gained 0.8% to close at R70,04/kg; 20 microns were 1.2% cheaper at R65,48/kg; 20,5 microns dropped by 1.6% to R64,15/kg; 21 microns were down 1.9% to R62,86/kg; 21.5 microns were 1.9% softer at R62,45/kg and 22 microns were 1.2% cheaper at R61,54/kg.

Approximately 10 000 bales will be offered at next week's sale.