Port Elizabeth – The wool market traded 2.3% lower at Wednesday’s sale.
Cape Wools said its market indicator decreased by 368 points to close at a value of R158.28 (Clean).
On the Australian market, the EMI increased 0.4%. The Cape Wools All Wool Indicator lost 0.9%.
“The market performed well today and the effect of a stronger Rand was offset by the increased demand and value of the market when measured in US Dollars,” Cape Wools said in a statement.
“The finer wool again delivered excellent returns to producers and the competition between the buyers was fierce with Standard Wool purchasing the lion share of the bales on offer.”
“This week saw the Rand at R13.03 to the US Dollar. The Rand was 3.2% stronger against the US Dollar compared with the average rate at the previous sale. The Rand gained 4.1% against the Euro, trading at R13.76. The offering comprised of 12 175 bales of which 97.6% was sold. Major traders were Standard Wool SA (3 366), Modiano (3 309), Lempriere SA (2 782) and Stucken & Co (1 476).”
“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 lost 0,3% to close at R191,32/kg; 18,5 microns decreased 1,2% to close at R181,70/kg; 19 microns dropped 0,8% to close at R178,04/kg; 19,5 microns decreased 0,4% to close at R169,54/kg; 20 microns decreased with 3,1% to close at R155,51/kg; 20,5 microns moved down 2,4% to close at R146,87/kg; 21,0 microns weakened 2,5% to close at R143,53/kg; 21,5 microns decreased 2,9% to close at R141,25/kg; 22 microns lost 0,7% to close at R141,87/kg and 22,5 microns decreased 1,0% to close at R142,26/kg.”
The next sale is scheduled for 22 February 2017 where approximately ±8 803 bales will be on sale.
