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Wool prices increased for a fifth consecutive week.
Cape Wools market indicator gained another four percent to close on R108.63 p/kg for clean wool.
Spokesperson Ona Viljoen, says this is an increase of 24% on the opening sale and 3.3% up on last season's highest level.
She says it also means that the indicator has risen by 23% during October.
"At the moment it is being driven by good demand especially from China where the raw wool supplies in the pipeline were very low, they were actually just living from week to week, but they need supplies now to keep their mills running and that has been the main driver also the raw wool supplies in the European pipeline were also very low, so we did see some interest in activity from them as well" Viljoen said.
Viljoen says approximately 10 000 bales will be offered at next week's sale.
