on air now
NOW PLAYING
Algoa FM Breakfast with Wayne, Lee and Charlie T
up next
Up Next
Roch-Lè Bloem
on air now
NOW PLAYING
Algoa FM Breakfast with Wayne, Lee and Charlie T
up next
Up Next
Roch-Lè Bloem
 

Lower volumes leave wool market unchanged


The wool market remained unchanged at this week's sale, with Cape Wools Merino Indicator dropping slightly by 0.3% to close at a value of R176.70 for clean wool.

Cape Wools said in a market report on Wednesday that the demand for Merino wool remained strong across all micron ranges with the finer and broader ends again holding up nicely.

“Buyers commented in particular on the performance of the finer lambs’ wool which had outperformed the market,” said Cape Wools

“This was a smaller sized auction which added pressure to a market already dealing with lower volumes on offer this season to date.”

“This week saw the Rand at R13.51 to the US Dollar and R15.86 to the Euro. The Rand was 1.9% weaker against the US Dollar and 0.3% stronger against the Euro, compared with the average rate at the previous sale. The offering comprised of 5 788 bales of which 97.9% was sold. Major traders were Standard Wool SA (1 851), Modiano (1 542), Tianyu SA (849) and Lempriere SA (563).”

The next sale is scheduled for 04 October 2017 where approximately ±8 609 bales will be on sale.