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Wool prices down


Wool prices softened slightly at this week's sale after reaching a fresh high last week.

Cape Wools says its Merino indicator was down 2.4% to close at R102.65 per kilogram.

Spokesperson, Ona Viljoen, says this could indicate some resistance from certain customers to the high price levels.

She says the Rand was also slightly stronger against the US dollar compared with last week's average rate.

Viljoen says the Australian market also also came off last week's levels to post lower prices.

Approximately 10 000 bales will be offered at next week's sale.