1 minute read
9 Apr 2014
4:00 pm

SA wool market dearer

The South African wool market was dearer at this week's national sale despite a stronger rand, Cape Wools said on Wednesday.

1PP bale on left with other bales of wool in a traditional display, Newcastle, NSW wool sales. Image courtesy of WikiMedia Commons.

Company spokeswoman Ria van Rooyen said Cape Wools’ Merino indicator gained 3.8 percent to close at R108.70/kg (clean).

This was 6.6 percent higher compared to the opening sale of this season and 5.3 percent higher compared to the corresponding sale of the previous season.

Van Rooyen said the local market strengthened in line with the overall trend, which prevailed on international markets.

The Australian market also improved with their indicator rising by 1.3 percent this week.

Van Rooyen said there was brisk competition for good quality long fleece wools due to a rather small and inferior offering this week.

A total of 5918 bales were on offer of which 97 percent was sold.

Major buyers were Standard Wool (1643 bales), Lempriere (1574) and Stucken & Co (1063).

No sale is scheduled for next week.

 – Sapa

Sales would resume on the 23 April when an estimated 11,000 bales would be on offer.