The third sale of the 2019-20 wool season was held on 26 September with 11,390 bales on offer, of which 92.8% was sold. The wool market closed 5.3% (871 points) up at a value of R172.31 a kg clean, with the Cape Wools All Wool Indicator closing 5.3% higher.
This week saw the Rand weaken 2.7% against the US Dollar and 2.2% against the Euro, compared with the average rate at the previous sale. The market improved by 2.6% in US Dollar terms. The wool market continued its steady performance in this sale, showing strong performance on the first sale day, with a degree of caution returning on the second day to see the average increase in the market at 5.3%. The very fine microns experienced downward pressure, with good competition on the longer segment of the clip, resulting in a good sales clearance of 92.8%, with RWS certified clips once again attracting good premiums on auction price levels.
The major buyers on today’s sale were: Modiano SA (4,185), Standard Wool SA (2,193), Lempriere SA (1,731) and Stucken & Co (1,371).
The average clean prices for the selection within the different micron categories for good top-making (MF5), long fleeces were as follows: 18.0 microns increased 4.7% to close at R190.23 a kg; 18.5 microns moved 3.8% up to close at R185.94 a kg; 19 microns gained 3.7% to close at R182.36 a kg; 19.5 microns strengthened by 7.4% to close at R182.88 a kg; 20 microns was 6.8% stronger to close at R178.95 a kg; 20.5 microns won 5.6% to close at R175.94 a kg; 21.0 microns recovered 4.7% to close at R173.95 a kg; 21.5 microns improved by 3.1% to close at R171.63 a kg; 22 microns rose 6.2% to close at 168.61 a kg and 22.5 microns declined by 0.3% to close at R172.33 a kg.
The next sale is scheduled for 2 October 2019 where about 5,847 bales will be on sale.
Source: Cape Wools
