Wool market unchanged at record high

22 Jan 2016

The wool market eased slightly this week and traded 0,5% lower and the Cape Wools Merino Indicator decreased by 85 points to close at a value of R160,76 (Clean).

©Kira Volkov via 123RF

On the Australian market, the indicator remained unchanged. The Cape Wools All Wool Indicator weakened by 0,1%.

The favourable market maintained its momentum and strong demand for wool absorbed the very large quantity of wool on offer this week. Traders commented that the supply pressure had tempered demand as liquidity constraints were a very real limitation in financing the clip.

This week saw the Rand at R16,83 to the US dollar. The rand weakened by 2,2% against the US dollar compared with the average rate at the previous sale.

The Rand weakened against the Euro, trading at R18,41. The offering comprised of 15,525 bales of which 97,6% was sold. Major traders were Standard Wool SA (5 511), Lempriere SA (3 970), G Modiano SA (3 022), and Stucken & Co (1 248).

The average clean prices for the selection within the different categories good top-making (MF5), long fleeces were as follows: 18,0 microns gained 0,2% at R175,46/kg; 18,5 microns lost 2,3% at R172,84/kg; 19 microns decreased 1,7% at R168,43/kg; 19,5 microns won 0,3% to close at R164,42/kg; 20 microns decreased with 1,1% to close at R161,65/kg; 20,5 microns weakened 0,4% to close at R160,94/kg; 21,0 microns rose 0,1% to close at R159,47/kg; 21,5 microns gained 0,3% to close at R159,66/kg and 22,0 microns weakened 2,3% to close at R154,25/kg.

The next sale is scheduled for 27 January 2016 where approximately ± 10,900 will be on offer.

Source: BDpro

Source: I-Net Bridge

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