Wool market unchanged

©Kira Volkov via 123RF

The Cape Wools All Wool Indicator weakened by -0.5%. Buyers said the strengthening Rand had negatively affected prices while the demand had held up well.

The offering was relatively small with few good quality long wool on offer. The impact of the drought was also discernible with clean yields declining markedly.

This week saw the Rand at R15.90 to the dollar. The rand strengthened by 1.8% against the dollar compared with the average rate at the previous sale. The rand weakened against the euro, trading at R17.92.

The offering comprised of 6,426 bales of which 97.8% was sold. Major traders were Lempriere SA (2,256), Standard Wool SA (1,938), G Modiano SA (763), and Stucken & Co (671).

The average clean prices for the selection within the different categories good top-making (MF5), long fleeces were as follows: 18,0 microns lost -1,4% at R172,98/kg; 18,5 microns gained 0,9% at R175,31/kg; 19 microns lost -1,8% at R162,73/kg; 19,5 microns gained 0,9% to close at R158,49/kg; 20 microns decreased with -0,8% to close at R155,06/kg; 21,0 microns dropped -0,2% to close at R155,70/kg; 21,5 microns gained 0,8% to close at R154,23/kg and 22,0 microns gained 0,8% to close at R149,06/kg. The next sale is scheduled for 17 February 2016 where approximately ± 7,600 will be on offer.

Source: INET BFA