Wool market 2.5% lower

©Kira Volkov via 123RF

On the Australian market, the EMI increased 0.7%. The Cape Wools All Wool Indicator lost 2.2%.

Demand for better quality wool was good and buyers commented that the excellent demand for longer wool had been particularly notable as supply thereof had dwindled markedly over time, also as a result of shorter shearing intervals, traders said.

This week saw the Rand at R14.72 to the US dollar. The rand strengthened by 1.9% against the dollar compared with the average rate at the previous sale. The rand strengthened 1.7% against the euro, trading at R16.69. The offering comprised of 9,464 bales of which 96,5% was sold. Major traders were G Modiano SA (3,067), Standard Wool SA (2,310), Lempriere SA (1,602), and Stucken & Co (1,478).

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 lost 3,9% to close at R167,17/kg; 18,5 microns declined 4,2% to close at R160,63/kg; 19 microns decreased 2,9% to close at R158,75/kg; 19,5 microns lost 2,6% to close at R156,00/kg; 20 microns decreased with 1,4% to close at R154,07/kg; 20,5 microns decreased 1,8% to close at R153,31/kg; 21,0 microns dropped 1,3% to close at R154,22/kg; 21,5 microns lost 1,3% to close at R152,56/kg and 22,0 microns lost 1,4% to close at R152,41/kg.

The next sale is scheduled for 20 April 2016 where approximately ± 4,432 will be on offer.

Source: INET BFA