The wool market traded 1.3% lower this week and the Cape Wools Merino Indicator decreased by 198 points to close at a value of R155.70 per kilogram for clean wool.
On the Australian market, the EMI increased 1.1%, with Cape Wools All Wool Indicators dropping 1%.
In a statement on Wednesday, Cape Wools said that "there was a fair amount of wool on offer despite the season nearing its close. Buyers commented that the demand was softer and they had expected a larger decline."
"This week saw the rand at R15,00 to the US dollar. The rand strengthened by 6,8% against the US dollar compared with the average rate at the previous sale. The Rand strengthened 4,9% against the Euro, trading at R17,00. The offering comprised of 12 439 bales of which 98,2% was sold. Major traders were Standard Wool SA (3 533), Lempriere SA (3 388), G Modiano SA (2 754), and Stucken & Co (1 592)," the statement said.
"The average clean prices for the selection within the different micron categories for good top-making (MF5), long fleeces were as follows: 18,0 microns gained 1,8% to close at R173,93/kg; 18,5 microns gained 3,0% to close at R167,64/kg; 19 microns decreased 2% to close at R163,44/kg; 19,5 microns lost 1.1% to close at R160,10/kg; 20 microns decreased with 2,0% to close at R156,26/kg; 20,5 microns decreased 1,5% to close at R156,06/kg; 21,0 microns dropped 1,1% to close at R156,29/kg; 21,5 microns lost 2,0% to close at R154,56/kg and 22,0 microns lost 3,0% to close at R154,65/kg."
"There will be no sale next week, next sale is scheduled for 13 April 2016."
