Wool production in major exporting countries at lowest levels in decades

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The wool market closed slightly up at this week's sale with the Cape Wool's Merino indicator gaining half a percent on last week.

Cape Wools'  Ona Viljoen says the indicator closed at R103.01 per kilogramme for clean wool.

She says with wool production in all five major exporting countries at their lowest levels in decades, the market is currently largely driven by supply concerns.

Viljoen says there was a small offering at this week's sale of which 96% was sold.

Approximately 9 500 bales will go under the hammer at next week's auction.