Strong demand from Chinese and Indian markets drove the wool price to record highs on Wednesday.
Cape Wools says its market gained 8.5% to close on R132.02kg.
This was 18.3% higher than the season's opening sale and 13.4% higher than the corresponding sale of the previous season.
The Australian market also closed 7.6% higher.
Cape Wools says that good quality Merino wool couple with strong foreign demand led to what CEO, Louis de Beer, described as an exceptional sale.
"We had a fantastic day. Lots of good demand and we very happy because we reached a new all time record for wool prices and that's obviously very encouraging especially at the end of the season. We still got three auctions left and it's just great to think that we can end of the 2014/2015 season on a such a high note.
De Beer said he also expects the 'price boom' to flow over into next season.
"If I look at the supply and demand equation at the moment and I look at supply where it is and projected supply as well as wool within the pipeline then I would, with a fair amount of certainty, say that the prices should either stay at these levels or continue to rise in the medium to long term," he said.
Cape Wools said the Rand on the day traded 0,8% weaker at R11,94 against the US dollar, compared with last week's average rate, and weakened 3,3% against the Euro at R13,46.
The offering comprised of 8 829 bales of which 99% was sold.
The next sale is scheduled for 27 May where approximately 8 000 bales will be on offer.
