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The wool market continued its upward march, with Cape Wools' market indicator gaining 6.8% after Wednesday's sale.
Cape Wools said in a statement that the market indicators closed at R116.09 per kilogramme for clean wool.
This represents an increase of 13.9% on the opening sale and 12.9% higher than at the corresponding sale the previous season.
Traders attributed the spike in wool prices to the current shortage of good quality long wool and the corresponding strong international demand.
A weaker Rand provided further support to the market.
Approximately 10 500 bales will be on offer at the next sale, rescheduled for the 6th of May due to the elections.
