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Prices were slightly higher at Wednesday's wool sale on the back of stronger demand and a weaker currency.
Cape Wools says its merino indicator gained 1.2% to close at R88.41 per kilogram for clean wool.
Spokesperson, Ona Viljoen, says there was strong demand for quality, long fleeces while prices for fine wool remained under pressure.
"The rand had depreciated by 2.7% against the US dollar compared with the average rate at the previous sale, trading at R8.38, while it was 4.7% weaker against the euro at R10.51," she said.
"A total of 7 694 bales were offered of which 98%, which was considerably higher than the 88% achieved at the previous sale. Major buyers were Standard Wool SA (3 414 bales), Lempriere SA (1 495 bales), Stucken & Co (1 012 bales) and Modiano SA (967 bales)."
"The average clean prices for the different categories good top-making (MF5), long fleeces were as follows: 18 microns were down 0.6% at R99,36/kg, 18.5 microns shed 1.8% to R95.36/kg, 19 microns dropped 0.9% to R94.28/kg, 19.5 microns were down by a marginal 0.2% to R93.45/kg, 20 microns gained 0.6% to close at R92.75/kg, 20.5 microns were up 0.6% at R92.47/kg, 21 microns rose 1.1% to R92.31/kg, 21.5 microns were a slight 0.3% cheaper at R91.80/kg and 22 microns were down 0.4% to close at R91.81/kg.
Approximately 8 000 bales will be offered at next week's sale.
