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Strong demand and a weaker Rand have boosted the country's wool market.
Cape Wools says its market indicator gained 3.2% on Wednesday to close at an all time high of R112.49 p/kg for clean wool.
Spokesperson, Ona Viljoen, says this is almost 29% higher than at the opening sale and 9.5% up on the same sale the previous season.
She says the Rand remained under pressure following continued labour unrest.
Viljoen says 98% of the more than 15 380 bales were sold.
"This was a very good start for the market, there was strong demand and of course the weaker rand boosted prices, but there was a very strong demand from China as well. I think there are concerns in China about the availability of wool for the rest of the season, especially your good quality wools, particularly due to the fact that there is a very big drought in Australia" Viljoen said.
Viljoen says the past two sales of the new year sets up the market for a good season.
She says approximately 13 000 bales will go under the hammer next week.
