South Africa Wool Market Report (South Africa)

MARKET ANALYSIS
Today’s CMW market followed the Australian trend where the finer end reacted well, whilst competition on the coarser end was less enthusiastic. Selected fine wool qualities of 18.5 micron and finer were sought after, increasing by 5%, whilst medium and shorter fine wool types remained unchanged. Coarser qualities, 19 to 23 microns, were 2.5% easier.

Competition amongst buyers was good with greasy exporters still dominating the market although the buying frequency was more selective with 99% of the offering sold.

The highest price of R84.00/kg on today’s sale was achieved by Golden Fleece from Calvinia for a 17.3 micron AFFY EST bale, which was purchased by Standard Wool.

FORECAST:
The good climatic conditions in Australia has caused their clip to become coarser, resulting in the volume of 18.6 micron and finer to decline by 21.9% down, together with a overall decrease in wool production of 7.2%. These tenancies should support current demand levels into the near future. Buyers for China are still dominant followed by Europe and India.

The next sale will be held on 1 December with approximately 11,500 bales on offer.