Wool market benefits from weak Rand

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 The wool market has once more benefited from a weak Rand.

Cape Wools says its Merino indicator gained 1.9% on the previous week to close at R114.25 p/kg for clean wool on Wednesday.

Spokesperson, Ona Viljoen, says the rand slid to its lowest level in four years against the US dollar following the release of worse than expected current account deficit figures.

Ninety nine percent of the more than 7 900 bales of wool on offer was sold.

Wool sales resume on the 27th of March.