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Sharp rise for wool prices


 Wool prices rose sharply at this week's sale.

Cape Wools says its merino indicator gained 4.3 to close on R102.99 p/kg for clean wool.

Spokesperson, Ona Viljoen, says this was up by almost 18% on the opening sale and to an extent can be attributed to a weaker rand.

She says the South African market was also catching up with Australia, where prices rose sharply at the past two sales.

Viljoen says more than 14 000 bales will be offered at next week's sale.