Wool prices slightly firmer

Wool prices were slightly firmer at this week’s sale and Cape Wools’ Merino indicator gained 0.8% on last week to close at R95,11/kg (clean).

Prices were also firmer in Australia where the market has been slowly moving upwards over the past two weeks after declining at the first few auctions of their selling season.

The rand, at R7,08 was 1.4% weaker against the US dollar compared with the average rate at the previous sale, but was 1.3% stronger against the euro at R9,96.

A total of 7 651 bales was offered of which 98% was sold. Major buyers were Standard Wool SA (3 412 bales), Stucken & Co (1 529 bales), Modiano SA (1 036 bales) and Lempriere SA (895 bales).

The average clean price for the different categories good top-making (MF5), sound, long fleeces (less than 1% seed content) were as follows: 19 microns were unchanged, 19,5 microns were down by a negligible 0.5% to R108,54/kg, 20 microns were up 1.1% at R103,31/kg, 20,5 microns rose 1.7% to R101,22/kg; 21 microns gained 0.5% to close at R99,14/kg, 21,5 microns were 1.7% dearer at R96,83/kg and 22 microns rose 1.4% to close at R95,32/kg.

Approximately 5 000 bales will be offered at next week’s sale.