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Wool market doing well despite strong rand

01 Feb 2016 | Admin Author


 The wool market held up well at the first sale of the new year despite a stronger rand.

The Cape Wools Merino indicator softened by a marginal 0,8% to close the day at R109p/kg for clean wool.

There was good competition in the auction room from all sectors of the trade despite the fairly large offering of 13 851 bales and a high sales percentage of 99% was achieved.

Approximately 13 000 bales will be offered at next week's sale.

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