Wool market steady

Image courtesy: Stock.xchng

Image courtesy: Stock.xchng

South African wool prices maintained last week’s levels, Cape Wools said on Wednesday.

Company spokeswoman Lizelle Delport said Cape Wools’ Merino Indicator remained virtually unchanged, gaining a mere 0.8 percent to close at R115.17/kg (clean).

“This is 13 percent higher than the opening sale and four percent higher than the corresponding sale of the previous season.”

She said this week’s national sale was characterised by solid demand from the various sectors of the trade and 99 percent of the offering of 6279 bales was cleared to the trade.

Delport said the small weekly offerings the last few weeks may have also supported the current price levels.

The 21.5 micron fleece wool posted the largest decline, decreasing by 4.5 percent.

There was keen demand for better quality long wool, with these types attaining good prices.

Major buyers were Lempriere (1880), Standard Wool (1311) and Modiano (1249).

The next sale was scheduled for March 5.

An estimated 14,500 bales would be on offer.

– Sapa




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