Wool market increases after slight declineThe sixth sale of the 2019/20 wool season took place with 13,776 bales on offer of which 92,9% was sold. The wool market closed 1,3% (222 points) higher than the previous figure at a value of R169,82/kg for clean wool, with the Cape Wools All Wool Indicator closing 1,7% higher. The Australian EMI moved 1% down. ©Jane White via 1233RF Compared to the previous sale, the rand was 1,2% stronger against the US dollar and 6,4% stronger against the euro. The market improved by 2,6% in US dollar terms. Wool market increases after declineThe wool market lifted its head after last week’s decline, but was hampered by a strong South African currency, which strengthened by a significant 6,4% against the euro. The large offering of 13,776 bales consisted of good quality length and micron wool. The biggest move in the market was seen in the 20,5 to 23,0-micron wool. The market followed the upward trend in this week’s Australian sale with much-improved competition from all the buying houses, partly attributed to the resumption of business activities after the Chinese holidays. The limited volume of short wool on offer resulted in a far bigger increase in this section of the clip, with certified wool also attracting premiums at today’s sale. The major buyers at today’s sale were: Lempriere SA, Modiano SA, Standard Wool SA and Tianyu SA. Average price per categoryThe 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/kg. The next sale is scheduled for 17 October 2019. |