15 400 bales of wool to be auctioned

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Wool sales resume this week, when some 15 400 bales will be on offer at an auction in Port Elizabeth on Wednesday.

The market closed on a high note for the Christmas recess when the Cape Wools market indicator reached an all-time high of R109.91 per kilogram for clean wool, on the back of strong demand from China. 

This was also almost 26% higher than at the season's opening sale in mid August last year.

Cape Wools says analysts predict that wool prices will remain strong during 2013.