SA wool prices under pressure

Image courtesy: Stock.xchng

Image courtesy: Stock.xchng

The South African wool market came under pressure at this week’s national sale, Cape Wools said on Wednesday.

Company spokeswoman Lizelle Delport said Cape Wool’s Merino Indicator shed 3.1 percent on last week to close the day at R111.48/kg (clean).

“This is 9.3 percent higher compared to the opening sale of this season and up 8.2 percent compared to the corresponding sale of the previous season.”

Delport said the market appeared to be without direction, while resistance to the high price levels may also have contributed to the lower prices.

Wednesday’s sale resulted in a 94 percent clearance of 11,243 bales on

offer.

The most active traders were Modiano (2821), Standard Wool (2493) and Lempriere (2469).

An estimated 15,000 bales would be on offer at the next national sale scheduled for December 4.

Delport said a special sale was also scheduled for December 11.

Sapa

 

 

 

 

 

today in print