The wool market traded 1.9% higher at this week's auction in Port Elizabeth, with the Cape Wools Merino Indicator closing at 161-rand-96 for clean wool.
A relatively small offering of just short of 6,900 bales was on sale yesterday, of which 67% was rated average to inferior.
Cape Wools says this resulted in keen competition for the better quality good top-maker and spinner types.
Prices increased across the board with the finer end benefitting most due to the trending good demand, and buyers commented that the market had favoured the sellers.
On the Australian market, the EMI increased 1,0% at yesterday's auction.
The next sale in Port Elizabeth is scheduled for 15 February, when some 12,287 bales will be on offer.
