Sharp increase in wool prices

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 There's been a sharp increase in wool prices at this week's sale compared with the previous week.

Cape Wools says its merino indicators gained 8.3% to close at R96.86 p/kg for clean wool.

Spokesperson, Ona Viljoen, says the steep rise in prices was a result of a weaker Rand, an improvement in the Australian market and buyers filling export quotas.

She says fine wools were in keen demand with prices increasing significantly.

Approximately 9 000 bales will be offered at the next sale.