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Wool prices drop at latest sale


 Wool prices dropped at this week's sale in an apparent downward correction following the sharp increases of the past few months.

Cape Wools says its Merino indicator shed 2.8% to close at R110.70 p/kg for clean wool.

However, the indicator was still up almost 27% on the opening level and 95% higher than at the same sale last season.

Spokesperson Ona Viljoen says traders reported orders as being "patchy" with complaints from some quarters about the current high price levels.

Nearly 15 000 bales will come under the hammer at next week's sale.