Wool market trades higher

©Jane White via 123RF

A few bales short of 10,000 went under the hammer at the Wool Exchange today. This week echoed last week’s sales with long, well-grown merino wools competing very well. There is some concern from the buying house about the lack of good wools that will be available over the next month.

This week saw the Rand at R13,88 against the US Dollar, and at R15,77 to the Euro.

The Rand was 1,3% weaker against the US Dollar and 1,0% weaker against the Euro compared with the average rate at the previous sale. The offering comprised 9 669 bales of which 95,6% was sold. Major traders were Standard Wool SA (2,807), G Modiano SA (2,441), Lempriere SA (1,671) and Tianyu SA (1,167).

The average clean prices for the selection in the different micron categories for good top-making (MF5), long fleeces were:

• 18 microns increased 1,3% to close at R246,15/kg;

• 18,5 microns moved 1,7% up to close at R246,24/kg;

• 19 microns gained 2,3% to close at R239,13/kg;

• 19,5 microns strengthened by 2,0% to close at R238,59/kg;

• 20 microns was 2,0% stronger to close at R231,60/kg;

• 20,5 microns increased 2,2% to close at R229,77/kg;

• 21,0 microns recovered 1,7% to close at R227,47/kg;

• 21,5 microns improved by 2,3% to close at R220,73/kg;

• 22 microns rose 2,3% to close at 215,79/kg;

• 22,5 microns gained 2,1% to close at R214,45/kg.

The next sale is scheduled for 30 January where there will be about 5 618 bales on sale.