Wool market under pressure

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 The wool market came under pressure at this week's sale after last week's record high.

Cape Wools says its Merino indicator shed 1.8% on last week to close the day at R110.46 p/kg for clean wool.

Spokesperson, Ona Viljoen, says this still 26% up on the opening level.

She says the market appeared to be without direction while resistance to the high price levels may also have contributed to the lower prices.

Approximately 8 000 bales will be offered at the next sale.