The wool sale was held on 10 October with 13,776 bales on offer, of which, 92.9% were sold. The wool market closed 1.3% (222 points) firmer at a value of R169.82 cents a kg clean with the Cape Wools All Wool Indicator closing 1.7% lower. The market followed the upward trend in Australian sale with much improved competition from all the buying houses, which was partly attributable to the resumption of business post Chinese holidays. The limited volume of short wool on offer resulted in a far bigger increase in this section of the clip with certified wools also attracting premiums in this week’s sale.
This week saw the Rand 1.2% stronger against the US Dollar and 6.4% stronger 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 lifted its head after last week’s decline, but was hampered by a strong SA currency, with the strengthening against the Euro.
The large offering consisted of good quality length and micron wool. The biggest move in the market was seen in the 20.5-23.0 micron wools
The major buyers were: Lempriere SA (3,702), Modiano SA (3,140), Standard Wool SA (2,869), and Tianyu SA (1,456).
The average clean prices for the selection within the different micron categories for good top-making (MF5), long fleeces were as follows: 18 microns decreased 2.5% to close at R182.97 c a kg; 18.5 microns moved 0.3% up to close at R183.94 c a kg; 19 microns gained 0.1% to close at R181.64 c a kg; 19.5 microns strengthened by 0.6% to close at R179.37 c a kg; 20 microns was 0.8% stronger to close at R174.78 c a kg; 20.5 microns won 0.8% to close at R172.44 c a kg; 21 microns recovered 1.7% to close at R172.31 c a kg; 21.5 microns improved by 1.3% to close at R171.94 c a kg; 22 microns rose 2.2% to close at 172.20 c a kg and 22.5 microns climbed by 1.5% to close at R172.32 c a kg.
The next sale is scheduled for 17 October 2019 where about 13,121 bales will be on sale.
